{"id":139463,"date":"2023-01-30T07:12:21","date_gmt":"2023-01-30T12:12:21","guid":{"rendered":"https:\/\/44.250.171.167\/?p=139463"},"modified":"2023-01-30T07:12:22","modified_gmt":"2023-01-30T12:12:22","slug":"tech-mahindra-q3fy23-results-out-net-profit-down-by-5","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/tech-mahindra-q3fy23-results-out-net-profit-down-by-5\/","title":{"rendered":"Tech Mahindra Q3FY23 results out; Net profit down by 5%"},"content":{"rendered":"\n<p>Tech Mahindra reported a consolidated net profit of INR 1,297 crore for the December quarter of the financial year 2022-23, down 5.3 percent. Profit after tax (PAT) stood at INR 1,368 crore in the year-ago period. The revenue from operations came in at INR 13,735 crore, rising 19.9 percent from INR 11,450 crore in the corresponding quarter of the previous year, the information technology services firm said in an exchange filing.<\/p>\n\n\n\n<p>EBITDA (earnings before interest, taxes, depreciation and amortisation) for the quarter came in at INR 2,144 crore, higher by 8.1 percent sequentially and 4.1 percent YoY.<\/p>\n\n\n\n<p>\u201cWe are witnessing moderation in growth given the tough macroeconomic environment. We will continue to work with our customers to pre-empt their technological requirements and identify, new demand drivers, especially for digital services,&#8221; CP Gurnani, managing director &amp; chief executive officer, Tech Mahindra said.<\/p>\n\n\n\n<p>In constant currency terms, revenue grew by 0.2 percent QoQ (quarter-on-quarter) while the Street expected a 0.4 percent growth.<\/p>\n\n\n\n<p>Net new deal wins for the quarter came in at $795 million, higher than $704 million in the year-ago period. IT attrition moderated to 17 percent from 20 percent in Q2 FY23 and 24 percent in Q3 FY22. \u201cOur numbers reflect resilience as we continue to work on the expansion of operating margin. I am confident that our strategy of client centricity &amp; agility combined with delivery-led transformation will help us create value for our customers and stakeholders alike,&#8221; Rohit Anand, chief financial officer, Tech Mahindra said.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"748\" height=\"1024\" src=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/c7a3fe6c-123c-4a26-80c3-7feb2b605f04-748x1024.png\" alt=\"\" class=\"wp-image-139468\" srcset=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/c7a3fe6c-123c-4a26-80c3-7feb2b605f04-748x1024.png 748w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/c7a3fe6c-123c-4a26-80c3-7feb2b605f04-219x300.png 219w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/c7a3fe6c-123c-4a26-80c3-7feb2b605f04-768x1051.png 768w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/c7a3fe6c-123c-4a26-80c3-7feb2b605f04-1122x1536.png 1122w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/c7a3fe6c-123c-4a26-80c3-7feb2b605f04-1496x2048.png 1496w\" sizes=\"auto, (max-width: 748px) 100vw, 748px\" \/><\/figure>\n\n\n\n<p>As of December end, the total headcount for the company stood at 157,068, down 4.2 percent QoQ and up 8.3 percent YoY.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tech Mahindra reported a consolidated net profit of INR 1,297 crore for the December quarter of the financial year 2022-23, down 5.3 percent. Profit after tax (PAT) stood at INR 1,368 crore in the year-ago period. The revenue from operations came in at INR 13,735 crore, rising 19.9 percent from INR 11,450 crore in the [&hellip;]<\/p>\n","protected":false},"author":1863,"featured_media":139468,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[105,8],"tags":[10525,5075,9124],"class_list":["post-139463","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-infographics","category-technology-stocks","tag-bpo","tag-it-services","tag-software-technology-services"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/01\/c7a3fe6c-123c-4a26-80c3-7feb2b605f04.png","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":141376,"url":"https:\/\/alphastreet.com\/india\/mahindra-holidays-resorts-q3fy23-earnings\/","url_meta":{"origin":139463,"position":0},"title":"Mahindra Holidays &#038; Resorts Q3FY23 Earnings","author":"Karan_Singh","date":"February 13, 2023","format":false,"excerpt":"As part of the Leisure and Hospitality sector of the Mahindra Group, Mahindra Holidays & Resorts India Ltd. (MHRIL) primarily offers family holidays by providing vacation ownership memberships. The company's flagship brand \u2018Club Mahindra\u2019, was started in 1996 and has 250,000+ members. Financial Results: Mahindra Holidays & Resorts India increased\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/12\/pexels-pixabay-271639-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/12\/pexels-pixabay-271639-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/12\/pexels-pixabay-271639-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/12\/pexels-pixabay-271639-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/12\/pexels-pixabay-271639-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":139705,"url":"https:\/\/alphastreet.com\/india\/vedanta-q3fy23-net-profit-drops-by-42-declared-an-interim-dividend-of-inr-12-5\/","url_meta":{"origin":139463,"position":1},"title":"Vedanta Q3FY23 net profit drops by 42%, declared an interim dividend of INR 12.5","author":"Chirag Gupta","date":"February 1, 2023","format":false,"excerpt":"Vedanta Limited on January 27 reported a 41.81 percent drop in consolidated net profit for the quarter ended December 2022 at INR 2,464 crore against INR 4,164 crore in the same quarter last year. The revenue from operations came in at INR 33,691 crore, down 0.01 percent from INR 33,697\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/a73909cd-ee24-4b52-9fca-10f6b37c7a81.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/a73909cd-ee24-4b52-9fca-10f6b37c7a81.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/a73909cd-ee24-4b52-9fca-10f6b37c7a81.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/a73909cd-ee24-4b52-9fca-10f6b37c7a81.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/a73909cd-ee24-4b52-9fca-10f6b37c7a81.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/a73909cd-ee24-4b52-9fca-10f6b37c7a81.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":140677,"url":"https:\/\/alphastreet.com\/india\/timken-india-net-profit-rises-by-over-a-percent-in-the-december-2022-quarter\/","url_meta":{"origin":139463,"position":2},"title":"Timken India net profit rises by over a percent in the December 2022 quarter","author":"Chirag Gupta","date":"February 9, 2023","format":false,"excerpt":"Net profit of Timken India rose by 1.15% to INR 70.6 crore in the quarter ended December 2022 as against INR 70 crore during the previous quarter ended December 2021. Sales soared by 19.49% to INR 609.4 crore in the quarter ended December 2022 as against INR 510 crore during\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"earnings preview","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":141351,"url":"https:\/\/alphastreet.com\/india\/vedanta-ltd-q3fy23-net-profit-drops-by-42\/","url_meta":{"origin":139463,"position":3},"title":"Vedanta Ltd Q3FY23 net profit drops by 42%","author":"Chirag Gupta","date":"February 13, 2023","format":false,"excerpt":"Vedanta Limited on January 27 reported a 41.81 percent drop in consolidated net profit for the quarter ended December 2022 at INR 2,464 crore against INR 4,164 crore in the same quarter last year. The revenue from operations came in at INR 33,691 crore, down 0.01 percent from INR 33,697\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"earnings preview","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":142828,"url":"https:\/\/alphastreet.com\/india\/tridents-q3fy23-net-profit-declines-by-32-percent\/","url_meta":{"origin":139463,"position":4},"title":"Trident&#8217;s Q3FY23 net profit declines by 32 percent","author":"Chirag Gupta","date":"February 27, 2023","format":false,"excerpt":"Textiles firm Trident Ltd reported a 32 per cent decline in consolidated profit after tax to INR 144 crore in the third quarter ended in December 2022. The company had posted a consolidated profit after tax of INR 211 crore in the same quarter previous fiscal, Trident Ltd said in\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"earnings preview","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":143055,"url":"https:\/\/alphastreet.com\/india\/sun-tv-network-q3fy23-net-profit-drops-by-10-percent\/","url_meta":{"origin":139463,"position":5},"title":"Sun TV Network Q3FY23 net profit drops by 10 percent","author":"Chirag Gupta","date":"March 1, 2023","format":false,"excerpt":"Sun TV Network Limited announced its earnings for the quarter ended 31st December 2022. The revenue (excl. IPL & Movies) was INR 810.51 crore for the quarter ended 31st December\u20192022 as against INR 829.57 crore for the corresponding quarter ended 31st December\u20192021. The overall revenue was at INR 857.51 crores\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"earnings preview","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/139463","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1863"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=139463"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/139463\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/139468"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=139463"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=139463"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=139463"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}