Tech Mahindra has posted the audited consolidated financial results for the third quarter (Q3) ended December 31, 2020. The consolidated revenues for the company witnessed a rise of 2.9 per cent quarter-on-quarter (QoQ) at Rs 96.47 billion, while, earnings before interest, taxes, depreciation, and amortisation (EBITDA) margins were up 19.6 per cent.
Financial highlights for the quarter (Rs)
- Revenue at Rs 96.47 billion; up 2.9 per cent QoQ, flat YoY
- EBITDA at Rs 18.96 billion; up 11.3 per cent QoQ;
- Margins at 19.6 per cent; up 140bps QoQ
- Profit after tax (PAT) at Rs 13.10 billion; up 23.0 per cent QoQ
- Earnings per share (EPS) was at Rs 14.9
Other Highlights
- Total headcount at 121,901, down 2,357 QoQ
- Cash and Cash Equivalent at $1,625 million as of Dec 31, 2020
Commenting on the results, CP Gurnani, Managing Director and Chief Executive Officer, Tech Mahindra, said, “The technology modernisation cycle continues to gather pace and our positioning of creating Experiences through Nxt. Now has seen us gain significant traction in the market place. We believe that the Future is Now and we are continuously innovating to address this shift in spending.”
Further, Manoj Bhat, Chief Financial Officer, Tech Mahindra, said, “Our focus on operational excellence has again yielded results as we structurally change our delivery model. We are seeing consistent improvement in our operating metrics and we are confident of continuing on this transformation journey in the coming quarters.”
