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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...

  • Tata Technologies Q4 profit dips 27% to Rs 157 crore

    Tata Technologies (Tata Tech) on Friday posted a 27.4% year-on-year (YoY) drop in net profit at Rs 157.24 crore in the January to March quarter FY24 as compared to Rs 216.56 crore in the same quarter a year ago on the back of degrowth in technology solutions and rise in employee costs.Sequentially, net profit declined 7.6% from Rs 170.22 crore in the preceding quarter ending December 2023.Revenue from operations for the quarter stood at Rs 1,301.05 crore, a 7.2% fall from Rs 1,402.39 crore in...

  • Coforge’s net profit declines 6% to Rs 223 crore

    Coforge’s net profit declined by 6% quarter on quarter (QoQ) at Rs 223 crore in the March quarter of FY24. The profit for the company grew by a whopping 94.8% on-year, from a profit of Rs 115 crore in Q4 FY23.The IT firm’s annual net profit for fiscal 24 stood at Rs 808 crore, up 16.5% year on year. Consolidated revenue stood at Rs 2,358 crore in the just concluded quarter, up 1.5% sequentially and 8.7% on-year. Margins stood at 19% in Q4 up from 18% in Q3 FY24.Coforge's fresh order intake more...