Tech Mahindra (NS:TEML), a technology and digital solutions provider, posted Saturday consolidated PAT of Rs 1,250 crore in the quarter that ended September, up 153.1% year-on-year and 46.8% on-quarter. The company posted revenues of Rs 13,313 crore this fiscal's second quarter or FY25, up 2.4% sequentially and 3.5% over the year-ago period.
The total headcount at the end of the quarter for Tech Mahindra came in at 154,273, up by 6,653 on-quarter and 3,669 YoY.
Cash and cash equivalent at the end of the quarter were at Rs 6,566 crore, and the company declared interim dividend at Rs 15 per share.
We continue to make progress on our strategic improvement efforts even as the overall IT services industry has remained soft. We have concentrated on strengthening client relationships and expansion of the partner ecosystem while continuing to have a sharp focus on operational excellence through project Fortius, which has allowed us to expand margins for the third sequential quarter, said Mohit Joshi, Chief Executive Officer and Managing Director, Tech Mahindra.
The quarter also witnessed Tech Mahindra forging a strategic partnership to accelerate the adoption of generative AI besides leading the digital transformation of Mahindra & Mahindra units.
Chief Financial Officer Rohit Anand of Tech Mahindra said that they have delivered consistent performance in lines of increasing deal wins coupled with revenue growth, cost optimisation, and generation of free cash-flow which makes them continue their journey towards FY27 stated targets.
In line with our capital allocation policy, the board declared an interim dividend of Rs 15 per share, he said.
Tech Mahindra announced the launch of the new comprehensive solution "TechM VerifAI" to validate and verify the outcomes of AI and GenAI projects. According to the company, through this solution, it will help enterprises validate the end-to-end lifecycle of AI-based projects, thus enabling them to scale up their AI initiatives rapidly.
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