Home Business Tech Mahindra’s Q2-21 performance goes up

Tech Mahindra’s Q2-21 performance goes up

by BQ News Bureau
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Tech Mahindra, a specialist in digital transformation, consulting and business reengineering services on Monday announced the audited consolidated financial results for its second quarter ended September 30, 2020. EBITDA margins stood at 18.2%.

Total revenue was Rs.9,372 crore, up 2.9%  on a quarter-on-quarter basis and up by 3.3%  on a year-on-year basis and EBITDA at Rs. 1,703 crore, up by 30.9% on a quarter-on-quarter basis. Profit after tax was at Rs. 1065 crore, up 9.5% on a quarter-on-quarter basis.  Earning per share was at Rs. 12.11. The board has proposed a special dividend of Rs. 5 per share (300%)

CP Gurnani, Managing Director and Chief Executive Officer, Tech Mahindra, said, “Our Repair, Rally and Rise strategy has helped the company to emerge stronger, as we journey towards a post-Covid world. We are witnessing demand revival across multiple segments, as customers have accelerated their pace of digital transformation. Our focus on creating human-centred experiences will enable us to capture increased spends on consumerisation, as businesses try to stay relevant in the current environment.”

Manoj Bhat, Chief Financial Officer, Tech Mahindra, said, “Strong execution on both revenue growth and operational metrics has helped to improve our performance on all fronts. Our cash conversion continues to be robust and we remain committed to creating value for our shareholders through effective capital return.”

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