Tech Mahindra Ltd.'s consolidated net profit increased 27% in the fourth quarter of fiscal 2024, but missed analysts' estimates.
The IT services firm's bottom line stood at Rs 664 crore in the quarter-ended March 31, 2024, according to an exchange filing on Thursday. Analysts tracked by Bloomberg had projected it at Rs 745 crore.
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Tech Mahindra Q4 FY24 Highlights (Consolidated, QoQ)
Revenue down 1.8% to Rs 12,871 crore (Bloomberg estimate: Rs 12,957 crore).
EBIT down 9% to Rs 638 crore (Estimate: Rs 965 crore).
EBIT margin at 7.5% versus 5.36% (Estimate: 7.4%).
Net profit up 27% at Rs 664 crore (Estimate: Rs 745 crore).