On a year-on-year (YoY) basis, Tech Mahindra's net profit soared 93.63% while revenue grew 1.41% in Q3 FY25.

EBITDA stood at Rs 1,809 crore in the quarter ended 31 December 2024, up 3.36% QoQ and up 57.78% YoY.

In terms of dollars (USD), revenue stood at $1,567 million in Q3 FY25, registering de-growth 1.3% QoQ and 0.4% YoY. In constant currency terms, revenue grew by 1.2% QoQ and 1.3% YoY. Profit after tax was at $116 million, up 9.9% QoQ and up 88.5% YoY. Free cash flow was at $199 million in the December quarter.

During the quarter, EBITDA was at $213 million, up 2% QoQ and up 54.7% YoY. EBITDA margin came in at 13.6% in Q3 FY25, up 40 bps QoQ and 480 bps YoY.

The IT firm secured net new deals TCV worth $745 million in Q3 FY25 as against $603 million in Q2 FY25 and $381 million reported in Q3 FY24.

Total headcount was at 150,488, registering de-growth of 2.5% QoQ and up 2.9% YoY. The last twelve months (LTM) IT attrition rate for Q3 FY25 was 11%, an increase from 10% in Q3 FY24 and a decrease from 11% in Q2 FY24.

Cash and cash equivalent were at Rs 6,841 crore as of 31 December 2024, compared with Rs 7,012 crore as of 31 December 2023 and Rs 6,566 crore as of 30 September 2024.

Mohit Joshi, chief executive officer and managing director, Tech Mahindra, said, “We see an improved rate of deal wins in our key verticals and prioritized 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.”

Rohit Anand, CFO of Tech Mahindra, said, “We delivered growth in EBIT margin and operating PAT, both on a sequential and year-on-year basis, resulting from our targeted actions under Project Fortius, along with a steady increase in new deal wins across prioritised verticals and markets. Our continued focus on optimising working capital management has resulted in the generation of robust free cashflow.”

Tech Mahindra is focused on leveraging next-generation technologies, including 5G, blockchain, cybersecurity, artificial intelligence, and more, to enable end-to-end digital transformation for global customers.

Shares of Tech Mahindra declined and closed at 1.81% to Rs 1,658.85 on the BSE.