Indian software services provider Tech Mahindra reported lower-than-expected third-quarter revenue on Friday on weak demand in its mainstay telecom segment.

Tech Mahindra is estimated to report a 103% year-on-year (YoY) jump in its Q3FY25 net profit. On a sequential basis, net profit is expected to fall 17%.

Tech Mahindra on Friday reported a 92.6 per cent leap in its consolidated net profit for the quarter that ended on December 31, 2024 (Q3 FY25) at Rs 983.2 crore compared Rs 510.4 crore reported during the same period last year.

MUMBAI/BENGALURU (Reuters) -Indian software services provider Tech Mahindra reported lower-than-expected third-quarter revenue on Friday on weak demand in its mainstay telecom segment. The company's revenue rose 1.

Profit was driven by a one-time land sale gain, rupee depreciation and improved rate of deal wins in its key verticals of banking, financial services & insurance (BFSI) and hi-tech & media.

Tech Mahindra reported a strong 92.63 per cent year-on-year (YoY) growth in its consolidated profit for the quarter ended December 2024, reaching Rs 983 crore. The profit stood at Rs 510 crore in the corresponding quarter of the previous financial year.

In dollar terms, Tech Mahindra reported revenue of $1,567 million, which was down by 1.3% QoQ and 0.4% YoY. However, revenue grew by 1.2% QoQ and by 1.3% YoY in constant currency terms.

Tech Mahindra reported a 93% increase in net profit for the December quarter, reaching Rs 983 crore, aided by a low base in the corresponding period l

Sequentially, net profit declined 21.36 percent. The decline in profit is due to a higher base reported in previous quarter, that came from a one-time special income from sale of assets.