Key Points
- Net profit shot up by 46.8% to ₹1250 crore in Q2.
- Revenue rose by 2.4% to ₹13,313 crore.
- Deal wins totaled $603 million this quarter.
- EBITDA hit ₹1750 crore, climbing 11.9% from the last quarter.
- Tech Mahindra brought on 6653 new employees, with an attrition rate of 10.6%.
- They announced a dividend of ₹15 per share.
Looma News
Tech Mahindra’s latest quarterly earnings show a massive net profit jump of 46.8% to ₹1250 crore for September. Revenue also ticked up 2.4% to ₹13,313 crore. They snagged deal wins worth $603 million, making waves in the tech scene.
CFO Rohit Anand pointed out that this quarter has been steady, showcasing growth in deal wins and revenue while keeping an eye on costs. They’re all about maintaining that cash flow as they push towards their FY27 targets.
Competitive Landscape
In the IT services game, Tech Mahindra is navigating a bit of a soft market. Rivals like Wipro and HCL are doing well, but Infosys had mixed results that didn’t wow investors. Tata Consultancy Services faced some margin issues, though their revenue growth was better than expected.
Future Prospects
By the end of the quarter, Tech Mahindra’s workforce stood at 154,273, thanks to over 6,600 new hires. Their attrition rate is manageable at 10.6%. Plus, they wrapped up the quarter with a solid cash reserve of ₹6566 crore and generated free cash flows of $157 million, rewarding investors with a ₹15 per share dividend.
On the deal side, Tech Mahindra has been busy partnering with a top European cloud provider for an Autonomous Operations Program and boosting efficiency for a telecom in Europe. They also landed a managed services deal with a Canadian media firm and a project with Australia’s leading telecom to enhance customer experience. Looks like they’re setting themselves up for some serious growth ahead.
