Tech Mahindra Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
January 24, 2024 at 10:15 am EST
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Tech Mahindra Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 131,013 million compared to INR 137,346 million a year ago. Revenue was INR 131,888 million compared to INR 139,816 million a year ago. Net income was INR 5,104 million compared to INR 12,966 million a year ago. Basic earnings per share from continuing operations was INR 5.77 compared to INR 14.7 a year ago. Diluted earnings per share from continuing operations was INR 5.76 compared to INR 14.64 a year ago.
For the nine months, sales was INR 391,242 million compared to INR 395,720 million a year ago. Revenue was INR 396,676 million compared to INR 402,315 million a year ago. Net income was INR 16,968 million compared to INR 37,136 million a year ago. Basic earnings per share from continuing operations was INR 19.2 compared to INR 42.11 a year ago. Diluted earnings per share from continuing operations was INR 19.13 compared to INR 41.94 a year ago.
Tech Mahindra Limited is one of India's leading IT service providers. Net sales break down by activity as follows:
- IT services (89.9%): consulting and engineering services, software publishing, outsourcing, architectural development and deployment, management of application management, development of network infrastructures, data security, cloud computing, etc. ;
- business process outsourcing services (10.1%).
Net sales break down as follows: telecommunications (39.7%), manufacturing industries (16.4%), financial services (16.1%), technology, media and entertainment (9.4%), distribution, transport and logistics (7.6%) and other (10.8%).
Net sales are distributed geographically as follows: India (6.8%), the Americas (47.5%), Europe (26%) and other (19.7%).
TECH MAHINDRA LIMITED 
