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Tech Mahindra Q1 PAT seen up at Rs 278.6cr QoQ
Tech Mahindra is expected to report a profit after tax of Rs 278.6 crore in the first quarter of FY12 as against Rs 92.1 crore in the previous quarter (The big skew is due to Satyam accounting (Profit of Rs 225 crore versus loss of Rs 327 crore)).
Tech Mahindra is expected to report a profit after tax of Rs 278.6 crore in the first quarter of FY12 as against Rs 92.1 crore in the previous quarter (The big skew is due to Satyam accounting (Profit of Rs 225 crore versus loss of Rs 327 crore)).
Adjusted PAT is likely to go down 10.9% to Rs 184 crore from Rs 206.5 crore (excluding proportionate stake of Satyam) quarter-on-quarter.
Revenues are seen going up by 2.65% to Rs 1295 crore from Rs 1,261.5 crore quarter-on-quarter.
EBITDA is expected to increase to Rs 262 crore in April-June quarter versus Rs 259 crore in the previous quarter.
Q1 highlights
Dollar revenue growth of 4.5% to be aided by cross currency • Muted growth expected from its top client BT (41% of revenues) • Non BT growth continues to be strong (last quarter was up 9% QoQ)
Margins could be marginally lower as • Utilizations could drop from 74% due to higher intake of freshers • Bharti BPO project started in one country, expected to ramp-up in next six months could put pressure • Alert - wage hike in Q2FY12 - so no impact on this quarter
PAT (Excluding Satyam) lower due to lower other income and higher tax rate
Attrition in Q4FY11 at 25% (quarterly annualized) - cause of concern
