DSIJ Mindshare

Tech Mahindra's Net Profit up by 43 per cent in Q1

Tech Mahindra is an Indian Company with business interests in the field of Information Technology(IT) services, in partnership with British Telecommunication focused primarily on telecommunication industry. Tech Mahindra is an integrated and business transformation consulting organization. It has expanded its IT portfolio by acquiring Satyam Computer Services.

Tech Mahindra recently declared its Q1FY16 results, the INR revenue from operations rose by 2.89 per cent to Rs 6293.82 crore as against Rs 6116.79 crore Q-o-Q. The USD revenue stood at USD 98.9 crore up by 0.5 per cent on quarterly basis. The total expenses of the company rose by 3.19 per cent to reach Rs 5531.68 against Rs 5360.42 because of rise in employee cost, depreciation and other expenses.

The Operating profit (EBITDA) stood at Rs 936 crore contracted by 0.8 per cent, the EBITDA at USD 14.7 crore, down by 1.4 per cent Q-o-Q. The financial cost of the company reduced to Rs 12 crore, declined by 30.15 per cent. The tax expenses increased by 13.76 per cent. The net profit of the company stood at Rs 676 crore compared to Rs 472 crore, increased by 43.23 per cent on quarterly basis.

Vineet Nayyar, Executive Vice Chairman, Tech Mahindra, said, "Our results are in line with our expectations, as we sense traction across our markets and remain hopeful of improving our performance by expanding our business in the coming quarters.”

C P Gurnani, Managing Director & CEO, Tech Mahindra said, “We remain committed to the growth of our customers, in line with our promise of serving the Connected World. Our strategic investments and initiatives across Digital are resonating well with the businesses we serve and holds potential to deliver opportunities that we can leverage upon.”

The total headcount stood at 103673. The company added 392 professionals during the quarter, the software headcount stood at 71997 and the BPO headcount stood at 24394. Cash and Cash equivalent stood at Rs 3350 crore as of June 30, 2015. The Active Client count stood at 770 in Q1FY16.

After the result announcement, today Tech Mahindra is trading at Rs 524 , around 1 per cent higher.

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