Thursday, October 30, 2014

#TechMahindra Q2 PAT at Rs.720 cr, grows 14%

Tech Mahindra has reported a consolidated net profit of Rs 720 crore for the quarter ended September 2014 against that of Rs 631 crore in the previous quarter. Revenues increased to Rs 5,488 crore, up 7 per cent from the previous quarter.

Financial highlights for the quarter (Rs.)
Revenue at ` 5,488 crore; up 15.0% YoY and up 7.2% QoQ
Operating profit (EBITDA) at ` 1,097 crore; up 18.2% QoQ
Consolidated PAT at ` 720 crore, up 14.1% QoQ
Earnings per Share (EPS) was ` 30.71 for the quarter ended Sep 30, 2014

Financial highlights for the quarter (USD)
Revenue at USD 900 mn; up 18.7% YoY and up 5.2% QoQ
Operating profit (EBITDA) at USD 180 mn; up 16.1% QoQ
Consolidated PAT at USD 118 mn, up 12.2% QoQ

Other Highlights
Total headcount at 95,309; adds 2,580 professionals during the quarter
Software headcount stood at 66,175; BPO at 22,433
Cash and Cash equivalent at ` 3,434 crore as of Sep 30, 2014
Active Client count stood at 649 in Q2 vs 632 in Q1FY15

Business Highlights:

Tech Mahindra and Bosch Software Innovations signed an agreement to work together and enable innovative solutions in the Internet of things ecosystem. The alliance will focus on developing connected solutions for smart cities, enterprises and smart homes.

Announced establishment of its new Canadian Aerospace Headquarters in Greater Montréal. The company will offer innovative Engineering and Information Technology services and anticipates creation of approximately 300 jobs over the next three years, mainly in the aerospace industry.

The Texas A&M Engineering Experiment Station (TEES) and Tech Mahindra signed a Memorandum of Understanding (MoU) to open a Joint Innovation Center for Computer Science in Houston.

Signed Memorandum of Understanding (MoU) with Wichita State University, a state educational institution in Kansas in the areas of aerospace engineering, certification, information technology and automotive testing.