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Tech Mahindra Q2 PAT seen down 6% at Rs 259.6 cr
Mahindra and Mahindra group company Tech Mahindra is expected to report a profit after tax of Rs 259.6 crore in the second quarter of FY12, a fall of 6% as compared to Rs 276.5 crore in the previous quarter.
Mahindra and Mahindra group company Tech Mahindra is expected to report a profit after tax of Rs 259.6 crore in the second quarter of FY12, a fall of 6% as compared to Rs 276.5 crore in the previous quarter.
Profit after tax of the company (excluding Satyam) is expected to be at Rs 158 crore versus Rs 181.2 crore during the same period.
Revenues are seen going up 4.4% to Rs 1,350 crore in the July-September quarter of FY12 from Rs 1,292.5 crore in the previous quarter.
EBITDA is likely to fall at Rs 224 crore from Rs 241.7 crore quarter-on-quarter.
Q2 highlights
Watch for BT account growth and commentary (BT owns 24.4% stake in Tech Mahindra and contributes 40% to revenues) • Last quarter Tech Mahindra had indicated that BT seeks bids for work which is currently done by TechM - possibility of revenues fallout from there. Most believe re-bid is likely to result in further pricing pressure rather than any major risk of Tech Mahindra losing any significant volumes to competitors • Last quarter BT grew 1.5% due to cross currency benefit (down 0.5% in constant currency) • Seen only 0.6% compounded QoQ revenue growth from largest client BT over past nine quarters,
Expect positive commentary on non BT biz (grew 5.8% in Q1)
