Business

TechM Q1 net jumps 39% to ₹1,353 crore

Tech Mahindra on Thursday posted a 39% increase in its consolidated net profit to ₹1,353.2 crore for the quarter ended June 30.

Revenue from operations rose almost 12% to ₹10,197.6 crore.

“We continue to build on our profitability journey and have reported highest-ever quarterly revenue and profit after tax this quarter,” Milind Kulkarni, CFO, Tech Mahindra, said, adding that delivery excellence would be the cornerstone of improving the company’s operational and financial metrics as it looks to capitalise on the incremental digital spends over the course of the year.

In dollar terms, net profit rose 42.2% to $183.2 million, while revenue grew 14.6% to $1,383.6 million.

“We have witnessed an all-round performance this quarter with growth across our key markets and industry sectors,” said C.P. Gurnani, MD and CEO.

“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 capitalise on the strong demand momentum,” he added.

The company said its total headcount stood at 1,26,263 at the end of the quarter, up by 5,209 on a sequential basis.


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Printable version | Sep 26, 2021 1:15:21 PM | https://www.thehindu.com/business/techm-q1-net-jumps-39-to-1353-crore/article35615788.ece

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