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Aug 09, 2012, 06.22 PM IST
Tech Mahindra's profit after tax rose slightly higher than expected 11.7% quarter-on-quarter and 22% year-on-year to Rs 338 crore in the quarter ended June 2012. Analysts on an average had forecast at Rs 310.73 crore.
Consolidated revenues increased 8.7% QoQ and 19% YoY to Rs 1,543 crore, which was in-line with analysts' expectations of Rs 1,539 crore.
Earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 38.66% QoQ to Rs 330 crore as against forecast of Rs 295 crore.
Tech Mahindra has added six new logos in the quarter and the total headcount stood at 40,630.
Cash and cash equivalent stood at Rs 280 crore in the first quarter of financial year 2012-13 while its debt went down by Rs 240 crore to Rs 886 crore as of June 30.
Vice Chairman, MD & CEO, Vineet Nayyar says the deal traction continues to be robust. He sees significant traction in non-BT business. However, global economic issues continue to remain a concern, he adds.
Operating profit margin expanded by 440 basis points due to currency depreciation.
Non-BT business grew by 2% while BT business declined sequentially.
Tags: Tech Mahindra
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