Tech Mahindra reports industry leading growth in Q3

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Tech Mahindra reports industry leading growth in Q3

Revenue at USD 1,116mn; up 4.1% QoQ

PAT at USD 126mn; up 30.8% QoQ

Mumbai, January 30, 2017: Tech Mahindra Ltd., a specialist in digital transformation, consulting and business reengineering today announced the audited consolidated financial results for its third quarter ended December 31, 2016.

Financial highlights for the quarter (₹):

  • Revenue at ₹ 7,558 crore; up 12.8% YoY; up 5.4% QoQ
  • EBITDA at ₹ 1,187 crore; margins up ~80bps QoQ at 15.7%
  • Consolidated PAT at ₹ 856 crore; margins at 11.3%
  • Earnings per Share (EPS) was ₹ 9.79 for the quarter ended December 31, 2016

Financial highlights for the quarter (USD):

  • Revenue at USD 1,116.1mn; up 10.0% YoY and 4.1% QoQ
  • Constant currency growth of 12.0% YoY and 5.4% QoQ
  • EBITDA at USD 175.0mn; up 2.5% YoY and up 9.2% QoQ
  • Consolidated PAT at USD 126.3mn, up 11.4% YoY and up 30.8% QoQ

Other Highlights:

  • Total headcount at 117,095; adds 4,209 professionals during the quarter
  • Software headcount stood at 80,858; BPO at 29,372
  • Cash and Cash equivalent of  ₹ 4,951crore as of December 31, 2016
  • Added cash of ₹ 950 crore during the quarter
  • The Active Client count stood at 837 in Q3, adds 12 active clients QoQ

“The strong deal wins and business momentum during the quarter reaffirm that we are on the right track to capitalize on the opportunities from the global digital transformation, and see measurable benefits from that,” said Vineet Nayyar, Vice Chairman,Tech Mahindra.

C P Gurnani, Managing Director & Chief Executive Officer, Tech Mahindra said. ““Our differentiated offerings focused on the five pillars of our DAVID strategy – Digitalization, Automation, Verticalization, Innovation and Disruption, position us as a strong partner of choice for global businesses.

Experiences that matter, and it’s in our DNA

The whole world is on the brink of another revolution, this time it is led by the theme of ‘connectedness’ that has been amplified by the proliferation of smart devices, smart technologies and smart thinking, which is impacting consumers as well as businesses alike. ‘Connectedness’ is the core strength of Tech Mahindra, whether it is though the company’s dominant position in areas like IoT, machine learning and cognitive computing, backed by early investment in the communications space.

As the boundaries between the physical and digital worlds are getting blurred and the world is becoming increasingly connected with amalgamation of connected devices and solutions, Tech Mahindra has refreshed its brand philosophy, to align with the changing needs. Accordingly, the brand focus has been aligned to the changing need, with a new brand tagline – Connected World. Connected Experiences. Going forward, we will have the theme of Connected Experience ingrained in every proposal, every conversation and client opportunity we pursue, with the launch of our revamped brand philosophy,” said Gurnani.

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