Tech Mahindra Q3 Profit Surges 93% YoY but Falls Sequentially

The IT giant reports mixed results with revenue growth in BFSI but struggles in telecom and manufacturing sectors.

Tech Mahindra's Q3 FY25 net profit rose 93% year-over-year to ₹983 crore, driven by a low base effect, but declined 21% sequentially from ₹1,250 crore in Q2 FY25.
Revenue for the quarter grew 1.4% year-over-year to ₹13,286 crore but fell short of analyst expectations and decreased slightly by 0.2% sequentially.
The telecom segment, contributing a third of Tech Mahindra's revenue, saw a 5.6% year-over-year decline, while the BFSI vertical grew by 8.3%.
Order bookings nearly doubled year-over-year to $745 million, signaling potential for sustained growth, according to CEO Mohit Joshi.
Employee headcount decreased by 3,785 sequentially, with the company now employing 146,250 people as of the end of Q3 FY25.