Tech Mahindra (NSE: TECHM), a prominent global technology consulting and digital solutions provider, announced its financial results for Q2 ending September 30, 2024. The company reported a revenue of USD 1,589 million, marking a 1.9% increase quarter-on-quarter and a 2.2% rise year-on-year. In constant currency terms, revenue grew by 0.7% QoQ and 1.2% YoY. EBITDA reached USD 209 million, showing an impressive 11.3% growth QoQ and a 61.4% surge YoY, with an EBITDA margin of 13.1%. Profit after tax (PAT) was USD 149 million, a substantial 46.1% increase QoQ and a 150.7% increase YoY, resulting in a PAT margin of 9.4%. The company secured new deal wins totaling USD 603 million in TCV.
In INR terms, the revenue was ₹13,313 crores, up 2.4% QoQ and 3.5% YoY. The EBITDA was ₹1,750 crores, a rise of 11.9% QoQ and 63.2% YoY, with a consolidated PAT of ₹1,250 crores, marking a 46.8% increase QoQ and 153.1% YoY.
Tech Mahindra’s operational highlights include a headcount of 154,273, reflecting an increase of 6,653 QoQ. The company declared an interim dividend of ₹15 per share. Key business achievements involved partnerships aimed at enhancing AI and digital transformation capabilities across sectors, including a strategic initiative with M&M and a significant partnership with Microsoft for workplace modernization.
Tech Mahindra received numerous awards, being recognized for innovation and sustainability leadership, and was placed in leadership zones by various industry analysts. The company continues to strengthen its global presence, emphasizing sustainable practices and technological advancement. CEO Mohit Joshi highlighted ongoing strategic improvement efforts despite a soft IT services market, while CFO Rohit Anand emphasized consistent performance in deal wins and revenue growth.
Original Story https://www.techmahindra.com/insights/press-releases/techmahindra-q2-fy25-results/
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