Tech Mahindra Q2 FY24 results revealed as profit falls by 61.58% YOY

In this article, we are going to talk about Tech Mahindra’s Q2 FY24 results. Tech Mahindra has recently released the results. The results of the company are shocking. It is because the profit has fallen by 61.58% YoY. Results have shown that the revenue has decreased by 2.02% YoY and the profits have also decreased by 61.58% YoY. This is very shocking if we compare it to the previous quarter. This result was not expected at all. Now to know everything regarding the Tech Mahindra Q2 FY24 results, read this article till the end without missing anything.

Tech Mahindra

Tech Mahindra Q2 FY24 results

Tech Mahindra has recently declared the official Q2 FY24 results. They have announced the results on 25th October 2023, Wednesday. As per the results, the topline has seen a decrease of 2.02% and the profit has also decreased by 61.58% YoY. On the other hand, if we compare the current results with the previous quarter the revenue declined by 2.24% and the profit also decreased by 28.68%. The Selling, general, and administrative expenses have risen by 1.88% QoQ and it has been seen increasing by 5.9% YoY. The operating income has seen a fall of 48.72% QoQ and has decreased by 68.86% YoY. Scroll down to the next paragraph of this article to learn more details.

If we take a look at the EPS. So the EPS is Rs. 6.95 for Q2 FY24 which has now been decreased by 52.8% YoY. Tech Mahindra has officially delivered a negative return of -4.63% in the last week but if we look at the results of 6 months the return is 14.64% and the YTD returns are 12.37%. At this time the company has a market cap of around Rs. 111423.7 crore and 52wk high/low of Rs. 1320 and Rs. 981.05. If we look at the consensus recommendation as of October 27, 2023, Friday has been on hold. Keep reading this article till the end to know more.

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On 27th October 2023, Friday out of 37 analysts covering Tech Mahindra 2 analysts gave given Strong Sell rating, 10 analysts gave given Hold rating, 11 analysts gave given Sell rating, and 7 analysts gave given Strong Buy rating. If we focus on the Q2 FY24 profit/loss as per Tech Mahindra it is Rs. 493.9 crore. And then the Q2 FY24 revenue is Rs. 12863.9 crore. The Tech Mahindra Financial total revenue YoY growth is -2.02% and its QoQ is -2.24%. And the net income of the company as per Q2 FY24 is 493.9. More details are to be released very soon on this page so keep following techballad.

Prakash Israni
Prakash Israni

Prakash, the content creator for Techballad, has built a solid reputation for himself over the course of more than ten years of blogging