Tech Mahindra Q2 profit up 17 pc q-o-q at Rs 1,124 crore

IT major Tech Mahindra on Tuesday reported over 17 per cent quarter-on-quarter (q-o-q) jump in its consolidated net profit for the quarter ended September at Rs 1,124 crore.

Revenue came in at Rs 9,070 crore, up 4.8 per cent q-o-q while earnings before interest, tax, depreciation and amortisation (EBITDA) stood at Rs 1,501 crore, up 14.2 per cent.

EBITDA margins moved up 130 basis points at 16.5 per cent while earnings per share for the quarter came in at Rs 12.88.

"We are thankful to our customers for believing in our capabilities despite a tough demand environment," said Managing Director and Chief Executive Officer C P Gumani.

"Our consistent large deal wins is a testimony of our differentiation in the marketplace. We are confident of our growth outlook for both communications and enterprise businesses. Digital continues to be a strong growth driver as we help our customers in their transformation journey," he said in a statement.

In constant currency terms, revenue grew 4.1 per cent while revenue in US dollar terms increased 3.2 per cent q-o-q to 1.28 billion dollars.

The deal wins in Q2 were at a record high of nearly 1.49 billion dollars. Tech Mahindra signed a multi-year agreement with AT & T to expand strategic collaboration accelerating AT & T's IT network transformation, shared services modernisation and movement to the cloud.

Total headcount during the quarter stood at 131,522, up 5,749 q-o-q.