Information technology player Tech Mahindra reported a PAT at ₹ 1,353 crores in the first quarter of the financial year 2021-2022. This is 25 per cent higher than the last quarter of ₹ 1,081.4 crores and 39.2 per cent higher than the PAT recorded year on year.
The revenue was up by 4.1 per cent quarter-on-quarter (QoQ) at ₹ 10,198 crores. Whereas EBITDA was at ₹ 1,876 crores which was down 3.7 per cent QoQ.
Other information technology peers Infosys Ltd., Wipro Ltd. and HCL Technologies Ltd also saw a rise in their net profit in the quarter ended June.
In terms of manpower, the total headcount rose by 5209 in the quarter adding up to 126,263.
Offering a comment on the results, Chief Financial Officer of Tech Mahindra, Milind Kulkarni, responded, “We continue to build on our profitability journey and have reported highest ever quarterly Revenue and Profit After Tax this quarter. Delivery Excellence will be a cornerstone in improving our operational and financial metrics, as we look to capitalize on the incremental digital spends over the course of the year.”
Managing Director & Chief Executive Officer, CP Gurnani, highlighted the company is seeing strong traction in helping clients for integrated digital transformation. He maintains, “the focus is on key technology pillars wrapped around experience-led approach with TechM Nxt.Now, will help us to capitalize on the strong demand momentum.”
On July 29, Tech Mahindra closed at ₹ 1,127.95, which was up ₹ 8.45, or 0.75 per cent on the BSE.