Chennai: Software player Tech Mahindra Ltd closed its third quarter with a drastic fall in its net profit at Rs 485.9 crore on a lower operational revenue.
In a regulatory filing on Wednesday, Tech Mahindra said for the quarter ended December 31, 2023 it had earned an operational revenue of Rs 10,551.4 crore (against Q3FY23’s Rs 10,987.6 crore) and a net profit of Rs 485.9 crore (Rs 1,204.4 crore).
Meanwhile, the company’s Board also approved an amendment to the scheme of merger by absorption, approved by it on October 24, 2023, to include merger of Thirdware Solution Ltd, a wholly-owned subsidiary.
The modified scheme of merger by absorption now covers Perigord Premedia (India) Private Ltd, Perigord Data Solutions (India) Private Ltd, Tech Mahindra Cerium Private Ltd, and Thirdware Solution Limited, wholly owned subsidiaries of Tech Mahindra.
