Tech Mahindra profit rises 13% QoQ, revenue surges 3.6%

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The revenue for the quarter rose 3.6 percent against the September quarter to 8,944 crore.

IT major Tech Mahindra on February 5 reported a 13 percent sequential rise in Q3 profit at Rs 1,203 crore. The company reported 27.5 percent year-on-year (YoY) rise in consolidated net profit.
The revenue for the quarter rose 3.6 percent against the September quarter to Rs 8,944 crore.
In constant currency terms, revenue was up 4.3 percent sequentially.  Revenue in US dollar terms was at $1,260.8 million, up 4.3 percent YoY and up 3.5 percent QoQ.
The company also raised its employee count in the quarter to 1,21,842, registering an addition of 3,451 employees sequentially.
EBITDA for the December quarter rose 6.4 percent sequentially and 36.2 percent on-year to Rs 1,723 crore.
EBITDA margins came in at 19.3 percent, up 300 bps YoY and 50 bps QoQ.
“This is a milestone quarter for Tech Mahindra with 5 billion dollars annual revenue run rate in sight. The current quarter has been impressive on all fronts, delivering steady growth in Enterprise and Communications business along with margin expansion," said CP Gurnani, Managing Director& Chief Executive Officer, Tech Mahindra.
"Our Run, Change and Grow strategy has helped us deliver a strong 10% sequential growth in digital revenues. We are confident of continuing the growth momentum.”
In the quarter, the active client count stood at 935. The company won 5 new clients in the December quarter as compared to September quarter.
Source : www.moneycontrol.com
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