Mumbai – October 21st, 2024.
TechMahindra (NSE: TECHM), a leading global provider of technology consulting and digital solutions to enterprises across industries announced the audited consolidated financial results for its quarterended September 30th, 2024.
| Financial highlights for the quarter (USD) | |
| Revenue USD 1,589 mn; up1.9% QoQ, up 2.2% YoYRevenue grew by 0.7% QoQ, up by 1.2% YoY in constant currency termsEBITDA USD 209mn; up 11.3% QoQ,up 61.4% YoYEBITDA Margin 13.1%, up 110bps QoQ, up480bps YoYProfit after tax (PAT) USD 149mn; up 46.1% QoQ, up 150.7% YoYPAT Margin 9.4%, up 280 bps QoQ, up 560 bps YoYFree cash flow USD 157mnNew deal winsTCV USD 603mn | |
| Financial highlights for the quarter (₹) | |
| Revenue ₹ 13,313crores; up2.4% QoQ, up3.5% YoYEBITDA ₹ 1,750crores; up 11.9% QoQ, up63.2% YoYConsolidated PAT ₹1,250crores; up 46.8% QoQ, up153.1% YoYEarnings per share (EPS) ₹ 14.10 | |
| Other Highlights | |
| Total headcount at the end of the quarter 154,273, up6,653QoQ and 3,669 YoYLTM IT attrition 10.6%Days of Sales Outstanding 94 days; up 1 day QoQ, down 3 days YoYCash and Cash Equivalent at the end of the quarter ₹6,566croresInterim dividend declared ₹ 15 per share | |
Mohit Joshi, Chief Executive Officerand Managing Director, Tech Mahindra,said,
“We continue to progress on our strategic improvement efforts even as the overall IT services industry has remained soft. We have focused on strengthening client relationships and expanding the partner ecosystem while maintaining a sharp focus on operational excellence through project Fortius, which has resulted in an expansion of margins for the third sequential quarter.”
Rohit Anand, Chief Financial Officer, Tech Mahindra, said,
“This quarter we see consistent performance around increasing deal wins, revenue growth, cost optimization and steady free cashflow generation as we continue our journey towards FY27 stated targets. In line with our capital allocation policy the board has declared an interim dividend of Rs. 15 per share.”