Tag: techm

Shares of Tech Mahindra dipped 4 percent to Rs 1,444 on the BSE in Wednesday’s intra-day trade after the IT firm's earnings before interest and tax (EBIT) margin declined by 40bps quarter-on-quarter (QoQ) to 14.8 percent in the December quarter (Q3FY22) due to salary hikes, higher sub costs, and lower utilization due to aggressive fresher hiring, impacted Tech Mahindra's margins during the quarter. In constant currency terms, the company saw a decent 4.7% revenue growth, sequentially, led by improved growth in the communications, media & entertainment, and enterprise verticals. In a post-earnings conference call, the management said that it remains confident of sustaining revenue growth momentum on the back of broad-based demand across verticals.However, the company’s management remains confident of maintaining EBITM with an upward bias on the back of revenue growth-led operating leverage, employee pyramid rationalization, subcontracting costs optimization, Read more

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. Read more