- By PTI
- Thu, 17 Jul 2025 12:58 PM (IST)
- Source:JND
Shares of IT services firm Tech Mahindra declined over 2 per cent on Thursday after its June quarter net profit declined sequentially.
The stock dropped 2 per cent to Rs 1,575 on the BSE.
At the NSE, shares of the firm went lower by 2.21 per cent to Rs 1,572.30.
Tech Mahindra on Wednesday reported a nearly 34 per cent year-on-year increase in consolidated net profit to Rs 1,140.6 crore for the quarter ending June 30, 2025, on the back of growth in communications and financial services verticals.
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The company had logged a net profit (attributable to owners of the company) of Rs 851.5 crore in the year-ago period, according to a regulatory filing.
The Pune-based company's revenue from operations for the first quarter of 2025-26 grew 2.65 per cent to Rs 13,351.2 crore from Rs 13,005.5 crore in the same period last year.
Sequentially, net profit declined by 2.2 per cent, and revenue saw a marginal dip of 0.2 per cent from the preceding quarter.
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Discretionary cuts and run-offs hit revenues, and the company expects deal wins to start reflecting in the numbers from the second quarter onwards.
