Vuélvete ilimitado con Magzter GOLD
Obtenga acceso ilimitado a más de 9000 revistas, periódicos e historias Premium por solo
Intentar ORO - Gratis
TechM profit down 61% as BFSI, telecom verticals drag
Business Standard
|January 25, 2024
Tech Mahindra, the IT services business of the Mahindra & Mahindra group, on Wednesday reported a 60.6 per cent decline in net profit to ₹510.4 crore for the third quarter of FY24.
The revenues for Q3FY24 stood at ₹13,101 crore, down 4.6 per cent yearon-year (Y-o-Y). Sequentially, the revenues were up 1.8 per cent and profit was up 3.2 per cent.
The company's performance was impacted due the macro uncertainty and weakness in top verticals like telecommunications, BFSI and retail.
The company's third quarter revenue numbers beat Bloomberg estimates, but missed profit expectations.
Bloomberg had estimated revenue to be at ₹12,801 crore and net profit at ₹663 crore.
Esta historia es de la edición January 25, 2024 de Business Standard.
Suscríbete a Magzter GOLD para acceder a miles de historias premium seleccionadas y a más de 9000 revistas y periódicos.
¿Ya eres suscriptor? Iniciar sesión
MÁS HISTORIAS DE Business Standard
Business Standard
PFRDA sets up panel to modernise NPS investment framework
The Pension Fund Regulatory and Development Authority (PFRDA) has constituted a high-level Committee of Investment Experts for Strategic Asset Allocation and Risk Governance (SAARG) to review, recommend and modernise the investment framework under the National Pension System (NPS).
1 min
January 26, 2026
Business Standard
JSW Steel to invest over ₹2 trn by FY31
Amid global volatility and rising trade barriers, JSW Steel is betting big on domestic demand. In an audio interview with Ishita Ayan Dutt, JSW Steel Joint Managing Director and Chief Executive Officer Jayant Acharya speaks about the ongoing and planned investments through FY31, the near and long-term outlook for the steel industry and the Competition Commission of India investigation report on alleged price collusion. Edited excerpts:
3 mins
January 26, 2026
Business Standard
R-Day boost: Ecom, qcom firms witness up to 25% uptick in sales
Ecommerce (ecom) and quick-commerce (qcom) platforms have recorded an up to 25 per cent year-on-year (Yo-Y) jump in sales until a day before Republic Day (R-Day) on Sunday.
2 mins
January 26, 2026
Business Standard
Shedding China baggage, India's luggage brands unpack manufacturing at home
For decades, China has dominated the global luggage and bag manufacturing industry.
3 mins
January 26, 2026
Business Standard
Race against time
Following a government directive, quick-commerce platforms have removed the 10-minute delivery promise from their branding.
1 min
January 26, 2026
Business Standard
Ashok Leyland bats for more scrappage boost
Commercial vehicle major Ashok Leyland is batting for more government incentives to boost fleet replacement in the country.
1 mins
January 26, 2026
Business Standard
Value of CDs climbs to ₹5.75 trn, rates cross 7% for marquee banks
Banks are depending more heavily on the market for certificates of deposit (CDs), whose worth climbed to a record ₹5.75 trillion in the fortnight to January 15, owing to deposit tightness in the system.
2 mins
January 26, 2026
Business Standard
Trump's Greenland dreams strain Maga ties with Europe's Far-Right
Tensions over US President Donald Trump's plans to take control of Greenland have driven a wedge in the once ironclad link between Make America Great Again (Maga) supporters and Europe's far-right.
2 mins
January 26, 2026
Business Standard
With EU FTA, textile firms hope to surpass B'desh in European exports
India’s textile and apparel industry, and knitwear hub Tiruppur, is buoyant about the likely trade deal with the European Union (EU), expected to be sealed this week.
2 mins
January 26, 2026
Business Standard
Gold, coconut oil and consumption: Inside Kerala’s inflation streak
With the state reporting the highest inflation rates in India, Himanshi Bhardwaj explains why this is happening and how it could impact the polls
3 mins
January 26, 2026
Listen
Translate
Change font size