25/7/2024, 9:52:02 pm

Lower subcontractor costs boost Tech Mahindra net profit by 29%

Tech Mahindra reported a 29% sequential jump in net profit to $102 million, driven by a 14% drop in subcontracting costs to $181 million. Revenue rose 0.7% to $1.56 billion, with healthcare and life sciences contributing $120 million. Operating margin improved by 110 basis points to 8.5%. The company's three-year roadmap aims to increase operating margin to 15% by March 2027.