Tech Mahindra on Tuesday reported a net profit of Rs 1,123.9 crore for the July-September period, marking an increase of 17.16 per cent compared with the previous quarter.
In a regulatory filing after market hours, the Mumbai-based IT major said its revenue stood at Rs 90,699 crore in the quarter ended September 30, up 4.82 per cent compared with the April-June period.
Shares in Tech Mahindra rose 0.80 per cent during the session before settling with a gain of 0.49 per cent at Rs 773.15 apiece on the BSE, ahead of the earnings announcement.Revenue from its IT segment stood at Rs 82,245 crore in Q2, as against Rs 78,572 crore in the April-June period.
BPO segment revenue grew 6.23 per cent to Rs 8,454 crore, according to the regulatory filing.In dollar terms, revenue grew 3.2 per cent sequentially to $1,287.2 million.
Revenue growth was at4.1 per cent in constant currency terms, Tech Mahindra said.The company said its deal wins hit a record high of$1.49 billion in the September quarter."We are thankful to our customers for believing in our capabilities despite a tough demand environment.
Our consistent large deal wine is a testimony of our differentiation in the marketplace," said CP Gumani, managing director and CEO, Tech Mahindra.Digital revenues grew 11.8 per cent in July-September compared with the previous quarter, and accounted for39 per cent of total revenues, the company said."We are confident of our growth outlook for both Communications and Enterprise businesses.
'Digital' continues to be a strong growth driver, as we help our customers in their transformation journey."Tech Mahindra announced the acquisition of a 100 per cent stake in US-based BORN Group to bolster its capabilities in commerce and customer experience,for a total consideration of up to $95 million.Tech Mahindra said its total headcount at the end of the second quarter of current financial year was 1,31,522, marking an addition of 5,749 compared with the previous quarter.Tech Mahindra stock outperformed the benchmark Sensex index which snapped a seven-day winning streak to end 0.13 per cent lower.Get Breaking news, live coverage, and Latest News from India and around the world on TheIndianSubcontinent.com.
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