Analysts at Nomura shared a 'buy' call for Tech Mahindra, with a target price of Rs 1,470 saying that the Q3 financials were above estimates on growth front
The attrition rate dropped from 11 percent in Q2 to 10 percent in Q3, continuing the trend of declining attrition rates since the start of fiscal year 2023.
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Net profit increased to Rs 1,001 crore from Rs 718.4 crore including exceptional gains. After excluding that, net profit stood at Rs 663.22 crore for the quarter.
Dollar revenues are expected to be USD 777.3 million, a growth of 2.5 percent compared to previous quarter while rupee revenues may grow 0.8 percent to Rs 4,810 crore in the quarter gone by.