Indian software services provider Tech Mahindra reported lower-than-expected third-quarter revenue on Friday on weak demand in its mainstay telecom segment.

Tech Mahindra on Friday reported a 92.6 per cent leap in its consolidated net profit for the quarter that ended on December 31, 2024 (Q3 FY25) at Rs 983.2 crore compared Rs 510.4 crore reported during the same period last year.

Sequentially, net profit declined 21.36 percent. The decline in profit is due to a higher base reported in previous quarter, that came from a one-time special income from sale of assets.

MUMBAI/BENGALURU (Reuters) -Indian software services provider Tech Mahindra reported lower-than-expected third-quarter revenue on Friday on weak demand in its mainstay telecom segment. The company's revenue rose 1.

Profit was driven by a one-time land sale gain, rupee depreciation and improved rate of deal wins in its key verticals of banking, financial services & insurance (BFSI) and hi-tech & media.

In dollar terms, Tech Mahindra reported revenue of $1,567 million, which was down by 1.3% QoQ and 0.4% YoY. However, revenue grew by 1.2% QoQ and by 1.3% YoY in constant currency terms.

IT and Consulting giant firm, Tech Mahindra announced the Q3 results ending on December 31, 2024. The company held the meeting today. “approved the Audited Consolidated and Standalone Financial Result