Tech Mahindra surges after strong Q2FY17 numbers

Tech Mahindra has declared its Q2FY17 results on Thursday after market hours. The company’s revenue has increased by 3.6 per cent to Rs 7167 crore in Q2FY17 as compared to previous quarter. Its EBITDA too has risen by 14.9 per cent to Rs 1070 crore in Q2FY17 on a yearly basis. Tech Mahindra has posted PAT of Rs 645 crore with margin of 9 per cent in Q2FY17. Tech Mahindra’s cash and cash equivalent stands at Rs 4001 crore and active client count at 825 in Q2FY17.

On the half yearly front, Tech Mahindra’s top line has increased by 9.13 per cent to Rs 14088 crore in H1FY17 on a yearly basis. The company’s EBITDA too has risen by 5.37 per cent to Rs 2099 crore in H1FY17 as compared to same period in previous financial year. Its bottom line also has increased by 6.39 per cent to Rs 1451 crore in H1FY17 on a yearly basis.

Tech Mahindra has been selected by Asia Pacific Bank for its Digital Workplace Transformation program. The company has also been chosen by leading US Telco to transform its enterprise sales solution process.

The share price of Tech Mahindra has increased by 6.94 per cent on bourses in early trades; and is trading at Rs 439.65 on an intraday basis.