Tech Mahindra s Q1 order book declined over 39 percent QoQ to $359 million from $592 million in the previous quarter due to weakness of the CME segment.
The company s net profit jumped 46 percent on-year to Rs 2,493 crore, beating analysts estimate of Rs 2,110 crore. The consolidated revenue for the quarter climbed 34 percent YoY to Rs 47,882 crore, and crossed the brokerages estimate of Rs 40,813 crore.
The engineering major s management expects operating margins to improve in the next few quarters but is cautious about slowing ordering activity going ahead due to Union Elections that will take place in 2024.