Tech Mahindra: Q3 net profit of ₹983 crore is up 93% YoY

Results for Q3: Tech Mahindra recorded a consolidated net profit of ₹983.2 crore for the quarter that ended in December 2024, a 92.6% increase over the ₹510.4 crore in the same quarter last year. Tech Mahindra made ₹13285.6 crore from operations in the December quarter (Q3FY25). In comparison to the ₹13001.3 Crore that the company reported in Q3FY24, or the December 2023 quarter, the revenues grew by 1.01%. Tech Mahindra reported that its revenue increased 1.2% on a quarterly basis and 1.3% on an annual basis in constant currency.

According to Tech Mahindra, the profit after tax (PAT) was $116 million. Tech Mahindra's press release stated that the operational net profit increased by 9.9% on a sequential basis and by 88.5% on an annual basis. The greater IT segment's revenue of ₹11146.4 crore was just slightly less than ₹111,83.4 crore. But the show was elevated by the segment's operating performance.

Wipro Q3 Results: Net Profit Increases by 24.5% year over year to INR 3,354 Crore

Wipro Q3 Findings: Wipro Ltd., a leading provider of information technology (IT) services, announced on Friday that its consolidated net profit (attributable to company equity holders) for the fiscal third quarter ended December (Q3FY25) increased by 24.5% year over year to ₹3,353.8 crore. In the same quarter last year, the company reported a profit of ₹2,694.2 crore. The consolidated net profit increased 4.5% sequentially. Wipro's stock fell 2.17% on the BSE to close at ₹281.80 a share.

The IT company's consolidated revenue from operations increased by about 1% year over year to ₹22,319 crores in the quarter that ended in December (Q3FY25) from ₹22,205 crore in Q3FY24. In Q2 of FY25, the increase was flat at ₹22,302 crore.

Wipro announced a ₹6 interim dividend per share in a regulatory filing on Friday. Members of the corporation will receive an interim dividend of ₹6 per equity share of par value of ₹2 each as of the record date of January 28, 2025.

Stocks that Pay Dividends BPCL and IOCL Schedule a Board Meeting to Discuss the 2025 Q3 Results

In the upcoming weeks, Indian oil marketing firms Indian Oil Corporation Limited (IOCL) and Bharat Petroleum Corporation Limited (BPCL) are anticipated to release their December quarter earnings.

In a regulatory filing on Friday, January 17, BPCL notified investors that the board of the business will convene on Wednesday, January 22, to review and approve the unaudited financial statements for the quarter that concluded on December 31, 2024. The proposal to declare an interim dividend for the fiscal year 2024–2025 and set a record date for it will also be taken into consideration by the board.

"Among other things, the Bharat Petroleum Corporation (BPCL) Board of Directors will meet on Wednesday, January 22, 2025, to review and approve the unaudited financial results for the quarter that concluded on December 31, 2024," BPCL stated in its exchange filing today.

In a similar vein, Indian Oil Corporation's board will convene on Tuesday, January 27, among other things, to review and approve the company's standalone and consolidated unaudited financial statements for the quarter that concluded on December 31, 2024.

"The Board meeting is scheduled on Tuesday, 27thJanuary 2025, inter alia, to consider and approve the standalone and consolidated unaudited financial results of the company for the quarter ended 31st December 2024," IOC stated in its regulatory filing for the day.

Strong auto-fuel marketing margins, somewhat offset by LPG losses, and an increase in GRMs helped by recovery in diesel cracks and minimum inventory loss are expected to cause OMCs to record a large QoQ improvement in EBITDA (on a low base), according to domestic brokerage firm JM Financial.

In Q3FY25, OMC's weighted average auto-fuel gross marketing margin increased to ₹9.5/liter from ₹6.4/liter in Q2FY25, according to the brokerage. However, a QoQ increase in OMCs' LPG under-recoveries (₹100–110 billion in Q3FY25 vs. ₹78.7 billion in Q2FY25) as a result of the lack of government reimbursement is projected to somewhat offset this gain.

Additionally, since Brent crude prices averaged USD 73.8/bbl in December 2024, compared to USD 74.3/bbl in September 2024, the brokerage anticipates that OMCs' Q3FY25 reported GRM will improve to USD 6.0–7.4/bbl (vs. USD 1.6–4.4/bbl reported in Q2FY25). This improvement will be driven by a recovery in diesel cracks (USD 14.6/bbl in Q3FY25 vs. USD 12.8/bbl in Q2FY25) and minimal crude inventory loss (USD 0.1–0.2/bbl in Q3FY25 vs. a loss of USD 1.5–2.0/bbbl in Q2.

Due to the low base impact, the brokerage anticipates that Q3FY25 EBITDA will increase significantly by 202% QoQ for IOCL, 93% QoQ for HPCL, and 70% QoQ for BPCL.