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Tech Mahindra Q1’22 revenues up 14.6% Q1’22 profit after tax up 42.2%

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Tech Mahindra announced the audited consolidated financial results for its quarter ended June30, 2021.

Financial highlights for the quarter (USD)

  • Revenue at USD 1383.6mn; up4.1% QoQ and 14.6% YoY
    • Revenue growth at 3.9% QoQ in constant currency terms
  • EBITDA at USD 254.3 mn; down 4.4% QoQ, up 47.5% YoY
    • Margin sat 18.4%; down160 bps QoQ
  • Profit after tax (PAT) at USD183.2 mn; up 24.1% QoQ and 42.2% YoY
  • Free cash flow at $172.4 mn, conversion to PAT at 94.1%

Financial highlights for the quarter (₹)

  • Revenue at ₹10,198crores; up 4.8% QoQ and 12.0% YoY
  • EBITDA at ₹1,876 crores; down 3.7% QoQ, up 44.3% YoY
  • PAT at ₹1, 353 crores; up 25.1% QoQ and 39.2% YoY

Other Highlights

  • Total head count at 126,263,up 5209 QoQ
  • Cash and Cash Equivalent at USD1818.2 mnas of June 30,2021
CP Gurnani, Managing Director & Chief Executive Officer, Tech Mahindra, said,

We have witnessed an all rounded performance this quarter with growth across our key markets and industry sectors. We continue to see strong traction in large deal wins as we are helping our customers in integrated digital transformation. Our focus on key technology pillars wrapped around experience-led approach with TechM Nxt. Now will help us to capitalize on the strong demand momentum.

Milind Kulkarni, Chief Financial Officer, TechMahindra,said,

We continue to build on our profitability journey and have reported highest ever quarterly Revenue and Profit AfterTax this quarter. Delivery Excellence will be a corner stone in improving our operational and financial metrics, as we look to capitalize on the incremental digital spends over the course of the year.

KeyWins

  • Tech Mahindra has won a deal with a leading UK telecom company for end to end customer experience for both consumer and enterprise businesses.
  • Tech Mahindra has been engaged by one of the largest private health care systems in US as a managed service partner for technology transformation.
  • Won a strategic digital assurance deal with an American technology company.
  • Tech Mahindra has been chosen by a Tier1 US Telco in the data and analytic sspace for data platform modernization and cloud migration.
  • Tech Mahindra has been chosen by Tier1 automotive equipment supplier for managed security services and green field service desk implementation.
  • Engaged by world’s Largest Public Funded Healthcare Program for establishing and managing contact centre operations for COVID vaccination programs.
  • Tech Mahindra has been chosen by an Australian government division as a digital transformation partner.
  • Tech Mahindra has won a deal with one of the largest rail road company in North America for strategic IT modernization leveraging the digital and analytics expertise.
  • Tech Mahindra has been selected by an Asia Pacific energy company for end to end transformation including infrastructure, cloud, cybersecurity services.
  • Tech Mahindra has been engaged by alarge bank in Africa for core banking transformation.
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