By Malvika Gurung
Investing.com -- The Indian technology service provider Tech Mahindra (NS: TEML ) will release its earnings report for the quarter ending September 2021 on Monday.
Ahead of its quarterly report announcement, analysts have predicted the IT major to post an over 20% rise in net profit backed by a double-digit rise in sales number.
The company gave wage hikes to 75-80% of its workforce, along with an increase in the cost of lateral hirings. Consequently, the bottom line figure is expected to remain flat with only about 2% rise QoQ, while sales are expected to rise 4% on a sequential basis and profit margin could witness degrowth.
Brokerages like HDFC (NS: HDFC ) Securities expect the Pune-based IT major to report an increase in net profit of 23% YoY, which is 3.3% down QoQ at Rs 1,309 crore, while a rise in net sales of 13.3% YoY, up by 4.1% QoQ to Rs 10.6 crore.
Emkay Global expects the net profit to rise by 24.2% to Rs 1,322 crore YoY but sequentially this figure is expected to fall by 2.3%. The sales figure is expected to rise 13.8% YoY to Rs 10.6 crore for the quarter ending September.
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