IT services firm Tech Mahindra on Saturday said its September quarter consolidated net profit jumped 153.1% year-on-year (YoY) to Rs 1,250 crore while revenue rose 3.5% YoY to Rs 13,313 crore.
On a sequential basis, profit and revenue saw growth of 46.81% and 2.36%, respectively.
While announcing the quarterly numbers, the Mahindra Group company also declared an interim dividend of Rs 15 per equity share and fixed November 1 as the record date for determining eligibility of shareholders.
During the quarter, the PAT margin stood at 9.4%, up 280 bps QoQ, up 560 bps YoY. New deal wins TCV stood at $603 million.
"This quarter we see consistent performance around increasing deal wins, revenue growth, cost optimization and
steady free cash-flow generation as we continue our journey towards FY27 stated targets. In line with our capital
allocation policy the board has declared an interim dividend of Rs. 15 per share," Rohit Anand, Chief Financial Officer, Tech Mahindra, said.
The company's CEO and MD Mohit Joshi said the overall IT services industry has remained soft. "We have focused on strengthening client relationships and expanding the partner ecosystem while maintaining a sharp focus on operational excellence through project Fortius, which has resulted in an expansion of margins for the third sequential quarter," he said.
In constant currency terms, Tech Mahindra's revenue was up 0.7% QoQ and 1.2% YoY.
Tech Mahindra's IT attrition rate increased to 11% in Q2 as compared to 10% in the previous quarter. The total headcount rose 4.5% QoQ to 154,273.
Revenue from the communications vertical dropped 1.7% YoY while BFSI recorded a YoY growth of 4.5%. Revenues from the technology, media and entertainment vertical rose 2.4%.
Tech Mahindra shares settled at Rs 1,688 apiece on the BSE on Friday, down 0.68% from the previous close.
On a sequential basis, profit and revenue saw growth of 46.81% and 2.36%, respectively.
While announcing the quarterly numbers, the Mahindra Group company also declared an interim dividend of Rs 15 per equity share and fixed November 1 as the record date for determining eligibility of shareholders.
During the quarter, the PAT margin stood at 9.4%, up 280 bps QoQ, up 560 bps YoY. New deal wins TCV stood at $603 million.
"This quarter we see consistent performance around increasing deal wins, revenue growth, cost optimization and
steady free cash-flow generation as we continue our journey towards FY27 stated targets. In line with our capital
allocation policy the board has declared an interim dividend of Rs. 15 per share," Rohit Anand, Chief Financial Officer, Tech Mahindra, said.
The company's CEO and MD Mohit Joshi said the overall IT services industry has remained soft. "We have focused on strengthening client relationships and expanding the partner ecosystem while maintaining a sharp focus on operational excellence through project Fortius, which has resulted in an expansion of margins for the third sequential quarter," he said.
In constant currency terms, Tech Mahindra's revenue was up 0.7% QoQ and 1.2% YoY.
Tech Mahindra's IT attrition rate increased to 11% in Q2 as compared to 10% in the previous quarter. The total headcount rose 4.5% QoQ to 154,273.
Revenue from the communications vertical dropped 1.7% YoY while BFSI recorded a YoY growth of 4.5%. Revenues from the technology, media and entertainment vertical rose 2.4%.
Tech Mahindra shares settled at Rs 1,688 apiece on the BSE on Friday, down 0.68% from the previous close.
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