Tech Mahindra Q2 net profit rises 30%

Tech Mahindra

Tech Mahindra Ltd. reported 30% rise in Q2 consolidated net profit.

For the second quarter ended September 30, 2017, Revenue stood at Rs. 7,606 crore; up 6.1% YoY and 3.7% QoQ

EBITDA was at Rs. 1,106 crore; margins up 180 bps QoQ, at 14.5%

Consolidated PAT at Rs. 836 crore; up 29.7% YoY and 4.7% QoQ; margins at 11.0%

Earnings per Share (EPS) was Rs 9.52 for the quarter ended September 30, 2017

Other Highlights:

Total headcount at 117,225

Software headcount stood at 75,587; BPO at 35,287

Cash and Cash equivalent of Rs. 5,961 crores as of September 30, 2017

The Active Client count stood at 885 in Q2, adds 21 active clients QoQ

Vineet Nayyar, Vice Chairman, Tech Mahindra, said: “Digital, Domain and Execution remain our focus, as we help global companies transform themselves from IT (Information Technologies) to DT (Digital Technologies). Tech Mahindra has once again proved that despite the occasional headwinds, geopolitical uncertainties and changing demands, we will Rise to grow.”

C P Gurnani, CEO & MD, Tech Mahindra, said: “With our DAVID (Digitalization, Automation, Verticalization, Innovation, Disruption) Strategy at play, 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.”