LTIMindtree Q4 profit falls 1.2%, revenue edges up
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Mphasis Q4 profit dips 2.9%, revenue falls 5.2%
Mid-sized IT services firm Mphasis has reported a 2.9% dip in net profit at Rs 393.22 crore as against Rs 405.31 crore in the year ago quarter. On a sequential basis, profit increased by 5.2% from Rs 373.6 crore in the previous quarter ending December 2023.Revenue from operations during the quarter declined 1.5% to Rs 3,412 crore as compared to Rs 3,361 crore in the year ago quarter. Sequentially, the revenues fell 2.2% from Rs 3,337.9 crore in December quarter.For the full year ended March...
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Cognizant Q1 revenue falls 1.1%, profit dips 6%
US-headquartered information technology and professional services firm Cognizant Technology Solutions (Cognizant) posted a decline in net profit by 5.9% year-on-year (YoY) to $546 million YoY, for the first quarter FY24 ending March due to a continued slowdown in discretionary spending by clients.The Nasdaq-listed firm had posted a net profit of $580 million in Q1 of FY23.Cognizant, whose majority of employees are based in India, follows the calendar year cycle from January to December.During...
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Tech Mahindra Q4 net profit down 41% to Rs 661 crore; revenue tanks 6.2%
Tech Mahindra, country's fifth largest IT services firm, reported a decline in net profit of 40.9% year-on-year (YoY)to `661 crore primarily driven by slowdown in its telecom, communications, media and entertainment business, which is its largest vertical with 36.5% market share.The profit stood at Rs 1,118 crore in last year's March quarter. Sequentially, profit grew 29.6% from Rs 510 crore in the December quarter because of a one-off gain. The Pune-headquartered firm’s consolidated revenue...