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, 2020.27 JULY, 2020 | India
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)
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.
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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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
|Q1 FY21||Q4 FY20||Q1 FY20|
|Revenue from operations||91,063||94,902||86,530|
|Cost of Services||65,105||66,896||61,642|
|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|
|Profit after tax||9,723||8,039||9,593|
|EPS (₹/ share)|
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