Technology
Mumbai - July 27th, 2020: Tech Mahindra Ltd., a specialist in digital transformation, consulting and business reengineering services today announced the audited consolidated financial results for its first quarter ended June 30, 2020.
Financial highlights for the quarter (₹)
Financial highlights for the quarter (USD)
Other Highlights
CP Gurnani, Managing Director & Chief Executive Officer, Tech Mahindra, said,
Our customer centric approach and continued focus on keeping our associates safe and connected has helped us to navigate through these challenging times successfully. We are witnessing a wave of new age technologies being adopted by the customers as businesses across the globe are actively pursuing digital transformation. We are well positioned to capture such spends and our endeavor is to be back on the growth path amid increased signs of demand normalization.
Manoj Bhat, Chief Financial Officer, Tech Mahindra, said,
Despite demand uncertainty and volume reduction, we have been able to demonstrate operational resilience through cost optimization. Cash conversion has been strong, while we aim to improve profitability margins as demand normalizes.
Key Wins
Business Highlights
Awards and Recognitions
About Tech Mahindra
Tech Mahindra represents the connected world, offering innovative and customer -centric information technology experiences, enabling Enterprises, Associates and the Society to Rise™. We are a USD 5.2 billion company with 123,400+ professionals across 90 countries, helping 981 global customers including Fortune 500 companies. Our convergent, digital, design experiences, innovation platforms and reusable assets connect across a number of technologies to deliver tangible business value and experiences to our stakeholders. Tech Mahindra has been recognised amongst India’s 50 best companies to work for in 2020 by the Great Place to Work®️ Institute.
We are part of the USD 21 billion Mahindra Group that employs more than 240,000 people in over 100 countries. The Group operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, after-market, information technology and vacation ownership.
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For Further Queries:
Kaustubh Vaidya
Head – Investor Relations
Phone: +91 98208 91860
Email:[email protected]
Abhilasha Gupta
Head - Corporate Communications & Public Affairs
Phone: +91 97179 46080
Email:[email protected]
Kavya Bagga
Investor Relations
Phone: +91 70660 07951
Email: [email protected], [email protected]
Kanika Vats
Corporate Communications & Public Affairs:
Phone: +91 98993 21495
Email:[email protected], [email protected]
Disclaimer
Certain statements in this release concerning the future prospects of Tech Mahindra Limited (“the Company” or “TechM”) are forward-looking statements. These statements b y their nature involve risks and uncertainties that could cause Company’s actual results differ materially from such forward-looking statements. The Company, from time to time, makes written and oral forward-looking statements based on information available with the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.
Audited consolidated financial for the quarter ended June 30, 2020 drawn under Ind AS
Particulars | Quarter Ending | ||
Q1 FY21 | Q4 FY20 | Q1 FY20 | |
Revenue from operations | 91,063 | 94,902 | 86,530 |
Cost of Services | 65,105 | 66,896 | 61,642 |
Gross Profit | 25,958 | 28,006 | 24,888 |
SG&A | 12,953 | 14,528 | 11,747 |
EBITDA | 13,005 | 13,478 | 13,141 |
Other Income | 4,161 | 2,852 | 3,413 |
Interest Expense | 503 | 532 | 454 |
Depreciation & Amortization | 3,832 | 3,928 | 3,213 |
Impairment of Goodwill and non current assets | - | 2175 | - |
Share of profit / (loss) from associate | 1 | 15 | (78) |
Profit before Tax | 12,832 | 9,656 | 12,809 |
Provision for taxes | 3,276 | 2,392 | 3,318 |
Minority Interest | 167 | 775 | 102 |
Profit after tax | 9,723 | 8,039 | 9,593 |
EPS (₹/ share) | |||
Basic | 11.13 | 9.21 | 10.98 |
Diluted | 11.07 | 9.14 | 10.89 |