Tech Mahindra Q2 Finance results announced on Net profit up 9.5% to Rs 1,065 crore

Tech Mahindra Q2 Finance results announced on  Net profit up 9.5% to Rs 1,065 crore



IT Company on Tech Mahindra announced the Q2 ended September 30, 2020 Finance results report on Net profit jump 9.5% percent QoQ, to 1,065 crores, as against last quarter net profit Rs.972 crore.

The company total revenue increase QoQ 2.9 percent to Rs.9,372 crore as against last quarter revenue of Rs.9,106 crore and this year’s revenue increase on YoY changes grew the 3.3% percent.

EBITDA at increase on QoQ 30.9% percent to Rs.1,703 crore, and Margins at he 18.2% percent an up 390 bps QoQ.

The company announced a Special dividend of Rs.15 per share. in the dividend paid to the shareholder on 12 November.

Managing Director & Chief Executive office, Tech Mahindra, CP Gurnani Sai, ” 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, customers have accelerated their pace of digital transformation. Our focus on creating Human-centered Experiences will enable us to capture increased spends on computerization, as businesses try to stay relevant in the current environment.

Tech Mahindra, Chief Finance Officer, Manoj Said, ” Strong execution 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.

Head Corporate Development & Global Head for Healthcare and Financial Services, Tech Mahindra said, ” The acquisition of Momentum and Tenzing Ltd, are in line with our strategy to strengthen our digital capabilities and offer our clients end-to-end transformation services. This Significantly enhances our local presence in the markets, and the combination will create significant synergies and help in bringing the next-generation solutions to customers enabling them to run better, change faster, and grow greater. We welcome the team of Momentum and Tenzing Ltd into the Tech Mahindra family and look forward to creating and delivering enhanced customer experiences for our customers.

The Tech Mahindra current share price Rs.847.

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