Tech Mahindra Q3 net profit down 5.3% as inflation, supply side pressures weigh

Tech Mahindra’s net profit for the third quarter ended December was up 0.9% sequentially to `1,297 crore, below the consensus Bloomberg estimates of `1,322.40 crore. However, net profit declined 5.3% year-on-year due to high inflation and cost impact due to supply side pressures.

The company’s revenues for the December quarter rose 4.6% sequentially to `13,735 crore, beating the consensus Bloomberg estimates of `13,488.70 crore.