Tech Mahindra Q1 net profit up 6.8% to Rs 959 crore, revenue rises 4.6% YoY

Ebitda was impacted by 100 bps each due to mobility slowdown as well as wage hikes

Pune-headquartered software firm Tech Mahindra (TechM) missed the Street estimates for the June quarter as it reported revenue earnings of Rs 8,653 crore, up 4.6 per cent year on year (YoY) and down 2.6 per cent sequentially. Profit after tax (PAT) was Rs 959 crore, up 6.8 per cent YoY and down 15 per cent over the quarter. 

Analysts had estimated a seasonal impact on the communication vertical to affect revenues by up to 2 per cent on a sequential basis and 5 per cent over the year. Profit estimates were factored to dip 6.6 per cent over the quarter and