EBITDA stood at Rs 1,750 crore in the quarter ended 30 September 2024, up 11.9% QoQ and up 63.2% YoY.
In terms of dollars terms, revenue stood at $1,589 million in Q2 FY25, registering a growth of 1.9% QoQ and 2.2% YoY. In constant currency terms, revenue grew by 0.7% QoQ and up by 1.2% YoY. Profit after tax was at $149 million, up 46.1% QoQ and up 150.7% YoY. Free cash flow was at $157 million in the September quarter.
During the quarter, EBITDA was at $209 million, up 11.3% QoQ and up 61.4% YoY. EBITDA margin came in at 13.1% in Q2 FY25, up 110 bps QoQ and 480 bps YoY.
The IT firm secured net new deals worth $603 million in Q2 FY25 as against $534 million in Q1 FY25 and $640 million reported in Q2 FY24.
Total headcount was at 1,54,273, registering a increased of 4.50% QoQ and 2.43% YoY. The last twelve months (LTM) IT attrition rate for Q2 FY25 was 10.6%, an increase from 10.1% in Q1 FY25 and a decrease from 11.4% in Q2 FY24.
Cash and cash equivalent was at Rs 6,566 crore as of 30 September 2024, compared with Rs 8,055.2 crore as of 30 June 2024 and Rs 6,514.8 crore as of 30 September 2023.
On half year basis, the company’s consolidated net profit surged 77.14% to Rs 2,101.6 crore in H1 FY25 on 1.13% increased in revenue to Rs 26,318.7 crore in H1 FY25 over H1 FY24.
Mohit Joshi, chief executive officer and managing director, Tech Mahindra, said, “We continue to progress on our strategic improvement efforts even as the overall IT services industry has remained soft. We have focused on strengthening client relationships and expanding the partner ecosystem while maintaining a sharp focus on operational excellence through project Fortius, which has resulted in an expansion of margins for the third sequential quarter.”
Rohit Anand, CFO of Tech Mahindra, said, “This quarter we see consistent performance around increasing deal wins, revenue growth, cost optimization and steady free cashflow generation as we continue our journey towards FY27 stated targets. In line with our capital allocation policy the board has declared an interim dividend of Rs. 15 per share.”
Meanwhile, the company’s board has declared an interim dividend of Rs 15 per equity share for FY25. The record for the dividend is fixed as Friday, 1st November, 2024. The dividend shall be paid on or before 17th November 2024.
Tech Mahindra is focused on leveraging next-generation technologies including 5G, blockchain, cybersecurity, artificial intelligence, and more, to enable end-to-end digital transformation for global customers.
The counter shed 0.68% to end at Rs 1,688 on Friday, 18 October 2024.