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Tech Mahindra reported its consolidated net profit for the second quarter ended September 30, at Rs 1,064.3 crore, increasing 27.2 per cent as against a net profit of Rs 836.2 crore in the July-September 2017 quarter.
Tech Mahindra said in a statement that the company’s revenue from operations for the said quarter went up to Rs 8,629.8 crores, rising by 13.4 per cent as compared to Rs 7,606.4 crore in the year-ago period. In dollar terms, the net profit was up nearly 15.6 per cent to USD 149.4 million, while revenue rose by 3.3 per cent to the USD 1.21 billion in the second quarter.
Tech Mahindra CEO and MD CP Gurnani said, “It’s been a satisfying quarter where our focus on digital transformation has helped us deliver a robust performance. Our strong deal wins especially in the communication vertical coupled with our 10 per cent-plus sequential growth in digital revenues are a validation of our Run, Change and Grow strategy.”
According to the company’s statement, Cash and cash equivalent stood as of September 2018 stood at Rs 7,900 crores. The active client count registered at 930, meanwhile the company added 4,839 people in the September quarter taking the total headcount to 118,391.
Tech Mahindra CFO Manoj Bhat said, “Our focus on optimizing our operations has led us to the highest EBITDA level and margin improvement in excess of 2 per cent sequentially and 4 per cent on a year-on-year basis.”
