Home Business TechM’s Q2 PAT down 4.4% to₹1,194.5 crore

TechM’s Q2 PAT down 4.4% to₹1,194.5 crore

0
TechM’s Q2 PAT down 4.4% to₹1,194.5 crore


Revenue from operations stood at ₹13,995 crore, a 5.1% increase compared with ₹13,313 crore in the same quarter of the previous year.
| Photo Credit: Dado Ruvic

Tech Mahindra, the IT arm of the Mahindra Group, on Tuesday posted a 4.4% decline in its consolidated net profit to ₹1,194.5 crore for the quarter ended September against ₹1,250 crore a year earlier.

Revenue from operations stood at ₹13,995 crore, a 5.1% increase compared with ₹ 13,313 crore in the same quarter previous year. EBIT stood at ₹1,699 crore, up 32.7% y-o-y, and new deal wins in the second quarter of this fiscal were at $816 million.

Mohit Joshi, CEO and Managing Director, Tech Mahindra, said the company delivered broad-based growth this quarter, reflecting the strength of strategy and execution.

“We launched TechM Orion, our next-generation AI platform, and TechM Orion Marketplace to help enterprises accelerate autonomous transformation,” he said.

According to Rohit Anand, Chief Financial Officer, Tech Mahindra, the quarter marked the eighth consecutive period of margin expansion, driven by operational efficiency and disciplined execution.

“Our deal TCV is up 57% year-on-year on an LTM basis, supported by strong deal conversions,’‘ he said.

The board has approved a dividend of ₹15 per share. The company had a total headcount of 1,52,714 at the end of the quarter, down 1,559 YoY.



Source link

NO COMMENTS

Exit mobile version