Tech Mahindra Q2 Results Review | Tech US News

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Tech Mahindra Limited reported in-line financial performance for the quarter. Both, sequential revenue growth and EBIT margin were in line with expectations.

It reported sequential growth of 3.3% QoQ in Indian rupee terms, (up 0.4% QoQ in US dollar terms), led by manufacturing (up 5.1% QoQ); and technology (up 4.5% QoQ).

The reported growth of the Indian rupee was supported by a 3.4% QoQ depreciation of the Indian rupee against the US dollar.

The quarter saw a sequential improvement in Tech Mahindra’s abbreviated margin (up 32bps QoQ) despite a rise in wages, due to a stronger focus on operational efficiency. Employee attrition was moderate as trailing twelve month leave was down 2% QoQ to 20%.

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