Tech Mahindra
The company announced its numbers a few minutes after closing bell yet, the market had anticipated good numbers and the stock price had closed in the green. The Q1FY16 performance unanimously beat all analyst and research forecasts, promising a good run on the bourses today.
The company posted a consolidated net profit of Rs.676 crore, up 43% (QoQ) on a 3% jump in revenue at Rs.6294 crore. But it was other income which actually turned the tide completely at Rs.137 crore v/s loss of Rs.65 crore in Q4. This surge in other income was mainly on account of Rs.93 crore forex gain v/s forex loss of Rs.154 crore in Q4. EBITDA for the quarter came in at flat at Rs.762 crore ad margins actually showed a decline of 26 bps at 12.1%.
In terms of dollar, consolidated revenue rose 0.5% at US$989 million while net profit was up 40% at US$106 million. Total number of active clients stands at 770.
Its total headcount as at 3oth June 2015 stood at 103,673 employees, adding some 392 employees QoQ. Attrition remained same at 19% (QoQ). IT utilization rose marginally from 74% to 75%. In terms of geographical revenue, North America continues to lead at 47.7%, growing from 45.4% in Q4. Europe declined marginally from 29.8% to 29.4%. RoW fell from 24.8% to 22.9%.
Cash and cash equivalents at end of Q1 stood at Rs.3350 crore.