Tech Mahindra (TechM) reported consolidated net income of ₹1,506 crore for the March quarter, growing 39% yoy and 10% qoq.
The company’s fourth quarter revenue was £12,116 billion; Up 24.5% YoY and 5.8% QoQ.
For the fiscal year, the technology company reported consolidated net income of ₹5,566 crore, up 25.7% year-on-year. Revenue for the year increased to ₹44,646 crore, up 17.9% year-on-year.
Speaking at a hybrid media conference on Friday, Tech Mahindra MD & CEO CP Gurnani said, “Tech Mahindra’s commitment to sustained digital transformation and investment in new-age technology stacks has seen one of the highest growth rates in the last 7 years with large deals led. ”
In the fourth quarter, the company reported more than $1 billion in new business, indicating a strong demand environment, he said. Of the $3.3 billion in net new business earnings Tech Mahindra reported in 2021-22, about a third came in its most recent fiscal quarter.
“Our structural profitability remains robust and we look forward to continuing on our path with a commitment to robust return on investments and operational efficiencies, supported by a comprehensive digital portfolio,” said Milind Kulkarni, Chief Financial Officer.
Tech Mahindra has also appointed Rohit Anand as its new CFO effective June 1st. In fiscal 2022, the company hired over 10,000 newcomers.