Friday 27 Nov, 2020 04:56 PM
Site map | Locate Us | Login
   Garware Technical jumps after board OKs Rs 73 crore buyback    India Tourism Development Corporation Ltd leads losers in 'A' group    Viji Finance Ltd leads losers in 'B' group    Volumes soar at Amber Enterprises India Ltd counter    L&T gains on signing contract with NHSRCL    Telecom stocks ease    Information Technology stocks slide    Energy stocks edge lower    GE Shipping contracts to sell of two oldest Suezmax crude carriers    United Breweries Ltd eases for fifth straight session    Canara Bank gains for third straight session    Welspun Corp Ltd in demand    GAIL (India) Ltd soars 1.65%, up for third straight session    Alkem Laboratories Ltd spurts 1.1%    Coal India Ltd spurts 0.64%, gains for five straight sessions 
Saravan Stocks
       
Hot Pursuit
Scrips, which has significant changes during the market hours.
Tech Mahindra Q2 PAT declines 5% YoY to Rs 1065 cr
23-Oct-20   16:50 Hrs IST

Sequentially, consolidated net profit rose 9.5% and revenue increased 2.9% in Q2 September 2020 (Q2FY21) over Q1 June 2020 (Q1FY21). Consolidated profit before tax (PBT) stood at Rs 1,409 crore in Q2 FY21, gaining 9.83% from Rs 1,283 crore in Q1FY21. Total tax expense rose 5.68% to Rs 346.20 crore in Q2 FY21 over Q1 FY21. The result was announced after market hours today, 23 October 2020.

Consolidated EBITDA grew by 31% to Rs 1,703 crore in Q2 September 2020 from Rs 1,300.50 crore in Q1 June 2020. EBITDA margin grew by 390 basis points to 18.2% in Q2 September 2020 over Q1 June 2020.

In dollar terms, the company's consolidated revenue stood at $1,265.4 million during the quarter, up 4.8% on a sequential basis. Profit after tax (PAT) rose 11.5% to $143.7 million in Q2 September 2020 over Q1 June 2020.

Total headcount stood at 1,24,258, up by 842 on a quarter-on-quarter (QoQ) basis. The company's cash and cash equivalent stood at $1,564 million as of 30 September 2020. Active Clients increased by 7% sequentially to 988 Q1 FY21.

Commenting on the performance, Manoj Bhat, CFO Tech Mahindra said, Strong execution on both revenue growth and operational metrics has helped to improve our performance on all fronts. Our cash conversion continues to be robust and we remain committed towards creating value for our shareholders through effective capital return.

The board of the IT major proposed a special dividend of Rs 15 per share and the record date is set on 2 November 2020. The dividend will be paid to shareholders on 12 November 2020.

Tech Mahindra also announced the acquisition of Tenzing and Tenzing Australia for a consideration of upto $29.5 million including earn-out. Tech Mahindra said the acquisition will bring strong capabilities primarily in the Insurance vertical along with expanding footprint in the Australia and New Zealand market.

Shares of Tech Mahindra rose 1.19% to Rs 848.1 on BSE today.

Tech Mahindra is engaged in the business of computer programming, consultancy and related services.

Powered by Capital Market - Live News

   Attention Investors : Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from CDSL on the same day........issued in the interest of investors.
   Attention Investors : Prevent unauthorised transactions in your account Update your mobile numbers/email IDs with your stock brokers / Depository Participant. Receive information of your transactions directly from Exchange / Depositories on your mobile / email at the end of the day .... Issued in the interest of Investors.
   Attention Investors : KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
   Attention Investors : No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."
Email ID: info@ssplwealth.com       Customers grievances : grievances@ssplwealth.com     Compliance officer : Mr.G Anand , anand@ssplwealth.com
Hit Count : 15275604
SEBI Regn.Nos : NSE/BSE-INZ000192638 | CDSL : IN-DP-262-2016  |  MCX : INZ000081736
Member IDs : NSE : 11221 | BSE : 6292 | CDSL : 12045000 | MCX : 12815 | AMFI Regn.No : 2662
Designed , Developed & Content provided by CMOTS INFOTECH.(ISO 9001:2015 certified) © Copyright 2011 All Rights Reserved. Saravana Stocks Pvt. Ltd