Kemi Badenoch, Penny Mordaunt, Rishi Sunak and Liz Truss are vying to get onto the final ballot.
Mr Tugendhat was eliminated after receiving 31 votes, down one from his performance in the second round last Thursday.
Ms Mordaunt dropped one vote but held onto second place with 82 votes, while Ms Truss gained seven votes to bring her total up to 71.In a statement, Mr Tugendhat said: "I want to thank my team, colleagues and, most of all, the British people for their support. But Ms Mordaunt said: "My vote is steady and I'm grateful to my colleagues for all their support and thrilled to be in second place once more."Sir Graham Brady reads out the result of third round of voting by Tory MPs in the leadership contestOn Tuesday morning, a source close to Ms Badenoch's campaign said she was the candidate offering real change. "Mordaunt has gone backwards and Truss only added seven votes.
He will also use the occasion to mark a year since England moved to step four of the so-called Covid roadmap, which saw the end of most of the remaining lockdown restrictions.
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