Tech Mahindra Q2 profit up by 16 per cent

Tech Mahindra is an Indian Company with business interests in the field of Information Technology(IT) services, in partnership with British Telecommunication focused primarily on telecommunication industry. Tech Mahindra is an integrated business transformation consulting organization. It has expended its IT portfolio by acquiring Satyam Computer Services.

Today Tech Mahindra announced its Q2FY16 results, the total income of the company rose by 5.11 per cent to Rs 6615.54 crore in Q2FY16 against to Rs 6293.82 crore in Q1FY16. The revenue from the communication industry stood at 52.9 per cent in Q2 from 52.7 per cent in Q1. Revenue from manufacturing segment stood at 16.7 per cent in Q2 against 17.1 per cent in Q1, revenue from technology media and entertainment segment stood at 8.2 per cent in Q2 compared to 7.3 per cent in Q1. Revenue from banking financial services and insurance segment stood at 9.6 per cent in Q2 against10 per cent in Q1. The revenue from retail transport and logistic segment stood at 6 per cent in Q2 against 6.5 per cent in Q1 and revenue from other segment stood at 6.6 per cent in Q2 from 6.5 per cent in Q1.

The EBITDA increased by 17.7 per cent to Rs 1101 crore, EBITDA margin expanded by 178 basis points on sequential basis. The Profit before interest and taxes rose by 18.58 per cent to Rs 903.71 crore Q-o-Q basis. The other income of Tech Mahindra grew by 21.38 per cent to Rs 165.8 crore, the tax expenses increased by 24.11 to Rs 260.45 crore on quarterly basis. The Net Profit of the company stood at Rs 785.63 crore in Q2FY16 as against Rs 676 crore in Q1FY16, grew by 16.21 per cent.

The FII holdings of Tech Mahindra rose by 280 basis points to 37.03 per cent and DII holdings reduced by 187 basis points to 12.05 per cent as on 30th September 2015.Today, Tech Mahindra after the result announcement is closed at Rs 557, higher by 0.28 per cent on BSE.