Tech Mahindra Q3 FY22 profit up by 4.5% to Rs 1,368cr

Tech Mahindra has posted a 4.5% increase in its profit after tax (PAT) for the third quarter of the fiscal year 2022 (Q3 FY22) at INR 1,368.5 crores, compared to INR 1,309.8 crores in the same quarter of the previous fiscal year.

In Q2 FY22, the Indian IT services provider had reported a profit after tax of INR 1,338.7 crores.

Tech Mahindra’s diluted earnings per share (EPS) for the quarter ended 31 December 2021 were INR 15.46, compared to INR 14.87 in Q3 FY21.

The revenue of the digital transformation, consulting and business re-engineering services provider during the reported quarter was INR 11,451 crores, which is an year-over-year increase of 18.7%, compared to INR 96,471 crores in Q3 FY21.

Tech Mahindra had recruited 3,874 people during the reported quarter to take its total headcount to 145,067.

Commenting on Tech Mahindra Q3 FY22 results, CP Gurnani — Managing Director and CEO of Tech Mahindra, said: “Our people-first approach combined with sustained value creation this quarter reflects our commitment towards redefining possibilities and competencies in the new normal. We continue to strengthen our presence, deliver broad-based profitable growth and value for our customers, backed by future-ready talent and niche digital capabilities.”

Recently, Tech Mahindra acquired Seattle-based IT services provider Allyis Group for $125 million.