Tech Mahindra reported a 4.73 year-on-year (YoY) drop in its December quarter net profit at Rs 1,145.9 crore.
Revenue, climbed nearly 8 percent YoY to Rs 9,654.6 crore in Q3FY20 against Rs 8,943.7 crore in Q3FY19.
Here are the highlights of Tech Mahindra's earnings call, compiled by Narnolia Financial Advisors:
The company announced acquisition of a 70% stake in Cerium Systems, which will boost its engineering services practice in VLSI and embedded software.
The company won a deal $1.3 billion of which $900 million has come from BFSI client and $150 billion from telecom segment.
The deal signed in 3Q will see some addition cost impact in 4Q.
The company is continuing to invest in R&D, whether it is 5G, blockchain, AI or on cloud.
The quarter saw a marginal reduction in headcount from 1,31,522 to 1,30,839 on account of normal business operation.The company sees BFSI to be the growth vertical in FY21.
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