NEW DELHI: Tech Mahindra on Tuesday posted 27.29 per cent year-on-year (yoY) rise in net profit at Rs 1,064.33 crore for the quarter ended September 30.
Analysts in an ETNow poll had estimated the profit figure at Rs 1,012.80 crore.The IT major had reported Rs 836.15 crore profit in the corresponding quarter last year.
Consolidated revenue from operations increased to Rs 8,629.85 crore during the quarter under review against Rs 7606.38 crore in the same period last year.
Ebitda increased by 46.40 per cent YoY and 19.30 per cent QoQ to Rs 1619 crore, while EBITDA margin witnessed an increase of 430 basis points YoY and 240 basis points QoQ to 18.80 per cent in Q2FY19.Manoj Bhat, CFO, Tech Mahindra said, This has been a strong quarter with improving operating metrics across most of our business lines.
Our focus on optimizing our operations has led us to the highest EBITDA level and margin improvement in excess of 2% sequentially and 4% on a YoY basis.C P Gurnani, Managing Director and Chief Executive Officer, Tech Mahindra said, Its been a satisfying quarter where our focus on digital transformation has helped us deliver a robust performance.
Our strong deal wins especially in the communication vertical coupled with our 10 per cent plus sequential growth in digital revenues are a validation of our Run, Change and Grow strategy.
Barring declines in our implementation business in our healthcare vertical, we have clocked a good quarter in terms of both revenue growth and EBIDTA margin improvement.
We will endeavor to maintain this momentum as we continue ourjourney.