Tech Mahindra Q2FY24 Results Analysis

IT major Tech Mahindra reported a 61.1 percent year-on-year (YoY) fall in Q2FY24 consolidated net profit at ₹505.3 crore versus ₹1,299.2 crore. Sequentially, the net profit was down 28.18 percent. In Q1FY24,the net profit of the company was ₹703.60 crore.The consolidated revenue from operations for Q2FY24 came in at ₹12.86 crore, compared to ₹13.12 crore year-on-year (YoY), registering a loss of 1.98 percent. On a quarter-on-quarter (QoQ) basis,