Tech Mahindra Q1 results profit jumps 39% YoY to Rs 1,353 crore
Published On: Thursday, July 29, 2021 | By: Team KnowMyStock
The IT services major Tech Mahindra reported a 39.17 percent year-on-year (YoY) jump in its consolidated net profit at Rs 1,353.2 crore for the April-June period of the financial year 2021-22 (Q1FY22) as against Rs 972.3 crore posted in the corresponding quarter last year. The Company reported Rs 1,081.4 crore in the quarter ended March 2021 which rose by 25.13 percent. The IT services major reported a 4.8 percent quarter-on-quarter rise in consolidated revenues to Rs 10,198 crore for the reported quarter, which was slightly above analysts’ expectations. The consolidated revenue from operations in June 2021 quarter grew 11.98 percent YoY at Rs 10,197.6 crore. The company had posted revenue of Rs 9,106.3 crore in the same period a year ago. Its earnings before interest and tax were down 3.6 percent at Rs 1,545.3 crore versus Rs 1,603.7 crore and the margin was at 15.2 percent versus 16.5 percent, QoQ.The dollar revenue was up 4.1 percent at $1,383.6 million against $1,329.6 million.
“We have witnessed an all rounded performance this quarter with growth across our key markets and industry sectors. We continue to see strong traction in large deal wins as we are helping our customers in integrated digital transformation,” said CP Gurnani, managing director and chief executive officer at Tech Mahindra.
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