BENGALURU: IT firm Tech Mahindra on Monday reported a 16% decline in its net profit for the quarter ended June 2022, at Rs 1,131.6 crore compared to Rs 1,353.2 crore in the same quarter last year.
However, its revenue from operations jumped 25% y-o-y at `12,707.9 crore in the first quarter compared to Rs 10,197.6 crore in the year-ago period. The company’s EBITDA stood at Rs 1,880 crore for the quarter, down 10% Q-o-Q and up 0.2% Y-o-Y.
CP Gurnani, CEO and MD, Tech Mahindra, said, “We are starting this fiscal with a renewed commitment towards delivering consistent organic growth. We remain resilient and watchful given the dynamic global macro-economic environment and will continue to invest in new and emerging technologies to deliver differentiated offerings.” Its total headcount was at 158,035, up 6,862 Q-o-Q. Its attrition for the quarter stood at 22% from 17% in Q1FY22.