Tata Technologies said on Monday that it has clocked over 3% fall in net profit sequentially at Rs 157.41 crore in Q2 FY25 from 162.03 crore in Q1 FY25, or over 1.5% down from the year-ago period (Rs 160.38 crore).
The leading global engineering services company reported operating revenue at Rs 1,296 crore, up 2.1% YoY and 2.2% QoQ.
The services segment revenue came in at Rs 1,005 crore, with 1 per cent growth year on year and 2 percent quarter on quarter.
The company added 175 people to its rolls in the second quarter, bringing the total number of employees to 12,680, it said in the Q2 financial report.
Our Services business has staged a comeback into sequential revenue growth in the quarter this time at 2% revenue. The order book and pipeline continue to stay healthy. Adding to all this positive momentum within anchor accounts, we are certainly looking at the second half of the fiscal year becoming stronger compared to the first half," said Warren Harris, CEO and Managing Director.
Operating EBITDA for Q2 stood at Rs 235 crore, growth of 9.9 per cent YoY and 1.9 percent QoQ.
Chief Financial Officer Savitha Balachandran said that the company was keen to continue its steady approach of keeping the tight operating discipline intact while incrementally investing in capabilities for leveraging the emerging opportunities available in the industries of key customer segments.
Our EBITDA margin for the quarter came in at 18.2 percent, with improvements in utilization and increased offshoring. We have also maintained very strong cash conversion in the first half of the year with free cash flow to net income conversion of over 100 percent. "We will continue to focus on creating long-term value for all stakeholders," Balachandran said.
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