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Tech Mahindra Ltd reports financial results for Q3FY19

Posted On: 2019-02-05 17:03:20

Tech Mahindra Ltd., a leading provider of digital transformation, consulting and business re-engineering services and solutions, today announced the audited consolidated financial results for its third quarter ended Dec 31, 2018.

Financial highlights for the guarter

- Revenue at Rs. 8,944 crore; up 15.0% YoY and up 3.6% QoQ
- EBITDA at Rs. 1,723 crore; up 36.2% YoY and 6.4% QoQ
- EBITDA margins at 19.3%; up 300 bps YoY and 50 bps QoQ
- Consolidated PAT at Rs. 1,203 crore; up 27.5% YoY; and 13.0% QoQ
- Earnings per Share (EPS) was Rs. 13.55 for the quarter ended Dec 31, 2018

Financial highlights for the guarter (USD)

- Revenue at USD 1,260.8 mn; up 4.3% YoY and up 3.5% QoQ
- Revenue growth up 4.3% QoQ, in Constant Currency terms
- EBITDA at USD 2447 mn; up 24.2% YoY and up 7.8% QoQ
- Consolidated PAT at USD 171.1 mn, up 16.4% YoY and up 14.5% QoQ

Other Highlights

- Total headcount at 121,842; up 3,451 QoQ
- Software headcount stood at 71,785; BPO at 43,439
- Free cash flow of $ 160.3 mn; cash conversion to PAT at 94%
- Cash and Cash equivalent of $ 1,251.8 mn as of Dec 31, 2018
- The Active Client count stood at 935 in Q3, up by 5 QoQ

C P Gurnani, Managing Director& Chief Executive Officer, Tech Mahindra said, "This is a milestone quarter for Tech Mahindra with 5 billion dollars annual revenue run rate in sight. The current quarter has been impressive on all fronts, delivering steady growth in Enterprise and Communications business along with margin expansion. Our Run, Change and Grow strategy has helped us deliver a strong 10% sequential growth in digital revenues. We are confident of continuing the growth momentum."

Manoj Bhat, Chief Financial Officer, Tech Mahindra said, "We continue to improve on our operating metrics across most of our business lines. We have clocked yet another strong quarter, in terms of revenue growth, continued EBITDA margin improvement, cash flow and robust deal wins. This continued thrust on optimization and yield management has helped us achieve margin improvement of 300 bps on a YoY basis."

Shares of TECH MAHINDRA LTD. was last trading in BSE at Rs.750 as compared to the previous close of Rs. 749.4. The total number of shares traded during the day was 142231 in over 2632 trades.

The stock hit an intraday high of Rs. 762 and intraday low of 740.4. The net turnover during the day was Rs. 106438154.

Source: Equity Bulls

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