Tech Mahindra head count reduced by 2357 due to automation, Q3 net profit up 14.3 pc to Rs.1,309.8 crore
NEW DELHI : Jan.30,2021 (PTI):
The Mumbai-based firm had registered a net profit (attributable to owners of the company) at ₹1,145.9 crore in the year-ago period, TIT services firm Tech Mahindra on Friday reported a 14.3 per cent rise in its consolidated net profit at Rs.1,309.8 crore for the December 2020 quarter with reduction in total headcount of 2357 from 1,21,901 people, from the September 2020 quarter.ech Mahindra said in a statement.
However, its revenue from operations was almost flat at ₹9,647.1 crore in the quarter under review from ₹9,654.6 crore in the year-ago period, it added.
Sequentially, Tech Mahindra's net profit was up 23 per cent (from ₹1,064.6 crore), while revenue was higher by 2.9 per cent (from ₹9,371.8 crore in September 2020 quarter).
"The technology modernisation cycle continues to gather pace and our positioning of creating Experiences through Nxt. Now has seen us gain significant traction in the market place. We believe that the Future is Now and we are continuously innovating to address this shift in spending," Tech Mahindra Managing Director and Chief Executive Officer CP Gurnani said.
Manoj Bhat, Chief Financial Officer at Tech Mahindra, said the company's focus on operational excellence has again yielded results as it structurally changed its delivery model.
"We are seeing consistent improvement in our operating metrics and we are confident of continuing on this transformation journey in the coming quarters," he said.