Tech Mahindra Achieves 92.6% YoY PAT Growth in Q3 FY25 Results

Tech Mahindra Limited announced its audited consolidated financial results for the quarter ended December 31, 2024.

On January 20, 2025, Tech Mahindra share price (NSE: TECHM) opened at ₹1,663.00, up from its previous close of ₹1,660.30. At 9:58 AM, the share price of Tech Mahindra was trading at ₹1,654.75, down by 0.33% on the NSE.

Q3 FY2025 Financial Results (USD)

The company reported revenue of USD 1,567 million for the quarter ended December 31, 2024, marking a decline of 1.3% quarter-on-quarter (QoQ) and 0.4% year-on-year (YoY). However, in constant currency terms, revenue grew by 1.2% QoQ and 1.3% YoY, reflecting stability in the company’s core business.

EBITDA stood at USD 213 million, showcasing a 2.0% QoQ and an impressive 54.7% YoY growth. The EBITDA margin rose to 13.6%, up 40 basis points (bps) QoQ and 480 bps YoY. Profit after tax (PAT) was USD 116 million, with operational PAT increasing by 9.9% QoQ and 88.5% YoY. The PAT margin also improved to 7.4%, with operational PAT margins rising by 80 bps QoQ and 350 bps YoY.

The company’s free cash flow during the quarter stood at USD 199 million. It also secured new deal wins with a total contract value (TCV) of USD 745 million.

Q3 FY2025 Financial Results (INR)

In Indian rupee terms, Tech Mahindra’s revenue for the quarter was ₹13,286 crores, reflecting a slight decline of 0.2% QoQ but an increase of 1.4% YoY.

EBITDA for the quarter stood at ₹1,809 crores, growing by 3.4% QoQ and an impressive 57.8% YoY. Profit after tax (PAT) was ₹983 crores, with operational PAT increasing by 11.5% QoQ and 92.6% YoY

The Chief Executive Officer and Managing Director of Tech Mahindra, Mohit Joshi, said, “We see an improved rate of deal wins in our key verticals and priortised markets. This coupled with consistent expansion in operating margins, despite cross-currency headwinds during the quarter, reaffirms that we are on track to achieve our long-term goals.”

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