Tech Mahindra reported a 4% decline in consolidated quarter net profit to ₹1,285 Cr. in Q2FY23 against ₹1,338 Cr. in the same quarter last year

Sequentially, its net profit jumped 13.6 percent from Rs 1,131.6 crore in the June quarter.

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In constant currency (CC), revenues grew by nearly 2.9% sequentially and in dollar terms, it was up 0.3%

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The company’s revenue for the quarter grew 20.7% year-on-year to ₹13,129 crores, its revenue meets estimates

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The company also stated that it signed net new deals worth $716 million during Q2FY23

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The company also managed to keep its attrition rate lower. For Q2 FY23, the attrition was at 20 percent. Lower than its peer Infosys and TCS

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The company’s board also announced a special dividend of ₹18 per share.

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The company’s total headcount was at 163,912, up 3.7% sequentially.

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The Tech Mahindra share price gained 0.43 percent in NSE and closed at Rs 1067.95 per share.

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