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HomeNewsEnterprise ITTech Mahindra reports 9.5% sequential jump in Q2 net profit at ₹1065 crore

Tech Mahindra reports 9.5% sequential jump in Q2 net profit at ₹1065 crore

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IT consulting firm reported a profit of Rs 1,064.6 crore in the second quarter of FY 2020-21, a 9.5% growth compared to the June quarter.

The profitability was supported by strong operating growth. Revenue from operations during the quarter increased by 2.9% to Rs 9,371.8 crore from Rs 9,106.3 crore in the previous quarter.

The dollar revenue at $1,265.4 million grew by 4.8% QoQ, while revenue growth was at 2.9% QoQ in constant currency terms, Tech Mahindra said in its BSE filing.

Communications business registered a 3.2% dollar revenue growth and 0.8% in constant currency terms, while the enterprise segment reported 5.9% dollar revenue growth and 4.3% growth in constant currency terms.

Revenue from the Americas grew by 2.7% sequentially in Q2FY21, Europe 2.1% and Rest of World 11.7%, company said.

Tech Mahindra has won the order of $421 million in the September quarter against $290 million in June quarter. It added 2 clients in $20 million band, 1 client in $10 million band, 4 clients in $5 million category and 9 clients in $1 million band during the quarter.

“The Repair, Rally and Rise strategy has helped the company to emerge stronger, as we journey towards a post-COVID-19 world. We are witnessing demand revival across multiple segments, as customers have accelerated their pace of digital transformation,” , Managing Director & Chief Executive Officer of Tech Mahindra said.

“The focus on creating human-centred experiences will enable us to capture increased spends on consumerization, as businesses try to stay relevant in the current environment,” he said.

Total headcount of the company increased by 842 employees sequentially to 1,24,258 employees in Q2FY21, while active clients at 988 in Q2FY21 rose by 7 clients QoQ.

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Tech Observer Desk
Tech Observer Desk at TechObserver.in is a team of technology reporters led by a senior editor who brings latest updates and developments from the world of technology.
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