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Tech Mahindra, Wipro Q3 revenues shrink; margins up
Mint Hyderabad
|January 18, 2025
HCL Technologies Ltd. Infosys reported a revenue of $4.94 billion, up 0.92% sequentially; whereas HCLTech's revenue rose 2.55% to $3.53 billion.
Both Wipro and Tech Mahindra reported client slippages, with the number of active clients declining on a yearly and sequential basis for both the companies.
Another similarity is the new leadership. Wipro picked Srinivas Pallia as its new chief executive in April last year, while Tech Mahindra appointed Mohit Joshi as CEO in December 2023. Both the bosses are trying to change the fortunes of the respective companies, which ended last year with a revenue decline.
Their work reflected in the margin performance of their companies.
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