India's IT Company major Tech Mahindra has announced a 25.8% hike in its consolidated net profit in the quarter ended in September, (Q2, FY22) at Rs. ₹1,338 crores, while it stood at Rs. 1,064 crore in the same period in FY 21. However, on a sequential basis, the company's profit after tax (PAT) has fallen 1.1% from Rs. 1,353 crore in Q1. At the time of declaration, Tech Mahindra's board has also announced a special dividend of Rs. 15 per equity share.
Tech Mahindra' has also announced that their consolidated revenue from operations has hiked by 16% to Rs. 10,881 crore as compared to Rs. 9,371 crore in the corresponding period in FY 21. The company's EBITDA in the quarter came in at Rs. 1,995 crore.
Tech Mahindra has informed, in dollar terms, the company's revenue came in at $1,472.6 million, with a hike of 16.4% on a Y-o-Y basis, and a hike of 6.4% on a sequential basis. In a BSE filing, the company said its revenue growth in constant constant currency terms stood at 7.2%.
Their total number of employees at the end of the September quarter was 141,193. Additionally, Tech Mahindra's attrition levels zoomed to 21% in Q2, which is higher than 14% in the same period last year, and 17% in the previous June quarter.
Tech Mahindra share price
Today, Tech Mahindra's share price went to Rs. 1,531.00, which was up by +13.55 (0.89%), ahead of the result declaration, till the NSE was open.
Commenting on the results, the Managing Director and Chief Executive Officer said, "As we record our highest sequential growth in a decade, we remain committed to deliver long-term sustainable and profitable growth for the company. We have witnessed strong traction across all key markets as we invest in our digital capabilities through strategic partnerships."