Tech Mahindra Q1’23 Revenues up 24.6% YoY

Mumbai – July 26th, 2022.

Tech Mahindra Ltd., a specialist in digital transformation, consulting and business re-engineering services today announced the audited consolidated financial results for its quarter ended June 30th, 2022.

Financial highlights for the quarter (USD)
Revenue at USD 1,632 mn; up 1.5% QoQ and up 18.0% YoY Revenue growth 3.5% QoQ in constant currency terms EBITDA at USD 239 mn; down 13.5% QoQ, down 6.2% YoY EBITDA margin at 14.8% Profit after tax (PAT) at USD 143 mn; down 28.0% QoQ and down 22.0% YoY Free cash flow at $71.6 mn, conversion to PAT at 50.2%
Financial highlights for the quarter (₹)
Revenue at ₹ 12,708 crores; up 4.9% QoQ and up 24.6% YoY EBITDA at ₹ 1,880 crores; down 10.0% QoQ, up 0.2% YoY Consolidated PAT at ₹ 1,132crores; down 24.8% QoQ and down 16.4% YoY
Other Highlights
Total headcount at 158,035 up 6,862 QoQ Cash and Cash Equivalent at USD 1,114 mn as of June 30, 2022 CP Gurnani, Managing Director & Chief Executive Officer, Tech Mahindra, said,   “We are starting this fiscal with a renewed commitment towards delivering consistent organic growth. We remain resilient and watchful given the dynamic global macro-economic environment and will continue to invest in new and emerging technologies to deliver differentiated offerings. Our winning strategy rests on the pillars – ‘Purpose, People and Performance’ which is aiding us to responsibly capitalize on the strong demand environment in the market.”   Rohit Anand, Chief Financial Officer, Tech Mahindra, said,   “Delivery transformation, cost optimization and cash conversion will be key focus areas, as we continue to offset the strong supply side headwinds in the market. We aim to expand our profitability through operational excellence and improved operating metrics over the course of FY’23..”