Tech Mahindra gains 8% as margins impress in Q2

The stock moved higher by 8% to Rs 741 on the BSE after the company's Ebitda margins in September quarter expanded 240bps at 18.8%

Shares of Tech Mahindra have moved higher by 8% to Rs 741 per share on the BSE in intra-day trade after the company’s Ebitda (earnings before interest, tax, depreciation and amortization) margins in the September quarter (Q2FY19) expanded 240 bps sequentially at 18.8%, mainly led by operational efficiencies and currency tailwinds. On a year-on-year basis, Ebitda margins were improved by 430 bps.

India’s fifth-largest IT services company Tech Mahindra reported an 18.5% QoQ rise in its consolidated net profit at Rs 10.64 billion in Q2FY19. Revenue grew 13.5% at Rs 86.30 billion over the previous quarter. In constant currency terms,