INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Shares of Tech Mahindra were trading higher in early trade on Wednesday after it posted a 5.6 per cent rise in consolidated net
profit at Rs 1,124 crore for the September quarter
The IT firm had registered a net profit of Rs 1,064.3 crore in the July-September 2018 quarter.
The scrip was trading 0.76 per cent up at Rs
779.55 at around 9.35 am (IST), while the benchmark BSE Sensex was down 71 points, or 0.18 per cent, at 40,177 at around the same
However, it added that Tech Mahindra has presented a good set of numbers for Q2FY20 with a constant currency (CC) revenue growth of 4.1 per
which is a one-time event that lowered its effective tax rate, and therefore, increased its net profit.
During the quarter, the company
signed a multi-year agreement with AT-T to expand strategic collaboration accelerating the latter's IT network transformation, shared
While operational efficiencies to the tune of 100 bps helped Tech Mahindra expand margins in Q2FY20, we estimate FY20 margins (YoY) would
dip owing to deal ramp-ups in H2FY20, which the company should recoup over FY21E
