Tech Mahindra Q2 revenue up 3.7%, PAT up 4.7%

IT services provider Tech Mahindra Ltd reported a 3.7% sequential jump in Q2 revenue and a 4.7% jump in net profit.

Revenue increased to Rs 7,606 crore, up 6.1% YoY, while net profit increased to Rs 836 crore, up 29.7% YoY.

Revenue in dollar terms was up 3.6% QoQ at $1,179.2 mln; up 10.0% YoY.

EBITDA margins went up 1.8 percentage points on a quarter on quarter basis.

PAT in USD was at $129.3 mn, up 33.9% YoY and up 4.4% QoQ.

The company’s performance has been slightly better than what others in its class have been able to report for the quarter.

“Tech Mahindra has once again proved that despite the occasional headwinds, geopolitical uncertainties and Changing demands, we will Rise to grow,” said Vineet Nayyar, Vice Chairman, Tech Mahindra.

C P Gurnani, CEO & MD, Tech Mahindra, said: “We have posted reasonably good growth in the quarter across revenue, profit and new business. I believe that we are bridging the gap between
experience and understanding quite Well and are displaying agility to embrace Changes and opportunities, across all the industries we serve.”

Total headcount was at 117,225, out of which IT accounted for 75,587 and BPO at 35,287.

The company’s cash and cash equivalents were at Rs 5,961 crores as of September 30, 2017.

Active clients were at 885 in Q2, including 21 new ones added in the three months.