Skip to main content

Tech Mahindra Q2 profit beats many experts at Rs 1,064 crore; revenue at Rs 8,630 crore


Tech Mahindra reported a consolidated net profit of Rs 1,064 crore for the September quarter, a rise of 19 percent quarter on quarter from Rs 898 crore.
The revenues rose 4 percent at Rs 8,630 crore against Rs 8,276 crore during the previous quarter.

The Mahindra Group company reported dollar revenue of $1,218.2 million.
The results managed to beat Street estimates. Analysts polled by Reuters, on average, expected revenue of Rs 8,605.8 crore and profit of Rs 1,003.7 crore.
The consolidated earnings before interest and taxes grew 23 percent to Rs 1,324.3 crore from Rs 1,076.1 crore reported during the June quarter.
The consolidated EBIT margin rose to 15.3 percent a rise of over 2 percentage points from 13 percent quarter on quarter.
The company reported an attrition rate of 20 percent, a rise from 19 percent during the previous quarter. It also said that it added 4 clients during the quarter, ending the reported period with an active client count of 930.
“It has 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% plus sequential growth in digital revenues are a validation of our Run, Change and Grow strategy. Barring declines in our implementation business in our healthcare vertical, we have clocked a good quarter in terms of both revenue growth and EB/DTA margin improvement," C P Gurnani, Managing Director & Chief Executive Officer of Tech Mahindra said in a statement to exchanges.
At the close of market hours, Tech Mahindra was quoting at Rs 684.50, up Rs 20.20, or 3.04 percent, on the BSE.
Source:- MoneyControl

Labels:

Comments

Post a Comment

Popular posts from this blog

Bata to pay ₹9,000 fine for charging ₹3 for a paper bag

The Chandigarh Consumer Commission recently ordered Bata India Ltd to pay  ₹ 9,000 in fine for charging   ₹ 3 from a customer for a paper bag to carry the shoebox. Legal experts say the order is legally valid across the country and that stores cannot charge consumers additional charges for the bag if the product is purchased from the same store. The forum's order came on a complaint filed by a consumer, Dinesh Prasad Raturi. Raturi told the consumer panel that he had purchased a pair of shoes on February 5 from the shoe store located in Sector 22D. The store charged  ₹ 402, which also included cost for the bag. Raturi contested that by charging him for the bag, Bata was also endorsing its brand on the bag which was not justified. Raturi sought a refund of  ₹ 3 and compensation for deficiency in services. The forum slammed Bata for charging an additional amount for the paper bag. The forum ordered that a customer cannot be compelled to pay for...
Post a Comment
Read more

Xiaomi Mi 8 SE, Mi 8 Screen Fingerprint Edition and the recently launched Mi Mix 3 will get Android Pie based update in Q4 2018.

Xiaomi reveals a list of devices that will get Android Pie update in Q4 2018 Xiaomi has revealed a list of smartphones that will get Android 9.0 Pie or Android Oreo update in Q4 this year. The list first spotted by GsmArena was posted by the company in its ‘Chinese-language’ forum. Xiaomi has published a list of devices that will receive the beta version of Android Oreo or Android Pie and the stable version in Q4, 2018. As per the list, Xiaomi Redmi Note 5, Redmi 5A, Redmi 5 Plus and Redmi 5X will get Android Oreo update in the fourth quarter. Meanwhile, the devices that will get Android Pie-based update including Mi 8 SE, Mi 8 Screen Fingerprint Edition, and the recently launched Mi Mix 3 as well. Also Read:  Xiaomi Mi Mix 3 with 10GB RAM, 5G connectivity launched: Here’s the price Xiaomi in the forum mentioned that the devices that have received two major updates or have been updated recently will not get Android Pie. The listing also cited that Xiaomi Mi 5S Plus O...
Post a Comment
Read more

How to book Indian Railways tickets on new IRCTC website; Explained in 8 easy steps

Recently, the e-ticketing arm of Indian Railways i.e., Indian Railway Catering and Tourism Corporation (IRCTC) modernized its official website. Now, a new version of the official website, in its beta form, is available for passengers to try. June 4, 2018 12:38 PM The revamped IRCTC website boasts of several passenger-friendly measures, the coolest of which is the latest software that predicts the chances of your waitlisted ticket getting confirmed. New IRCTC next-generation e-ticketing website: Recently, the e-ticketing arm of Indian Railways i.e., Indian Railway Catering and Tourism Corporation (IRCTC) modernized its official website. Now, a new version of the official website, in its beta form, is available for passengers to try. The revamped IRCTC website boasts of several passenger-friendly measures, the coolest of which is the latest software that predicts the chances of your waitlisted ticket getting confirmed. While other railway portals already offer a simi...
Post a Comment
Read more