Tech Mahindra Ltd is up for a third straight session in a row. The stock is quoting at Rs 1725.35, up 1.36% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 1.43% on the day, quoting at 23682.8. The Sensex is at 78137.76, up 1.27%. Tech Mahindra Ltd has dropped around 0.61% in last one month. Meanwhile, Nifty IT index of which Tech Mahindra Ltd is a constituent, has dropped around 0.99% in last one month and is currently quoting at 41952.8, up 1.64% on the day. The volume in the stock stood at 8.35 lakh shares today, compared to the daily average of 18.86 lakh shares in last one month. The benchmark November futures contract for the stock is quoting at Rs 1728.45, up 1.7% on the day. Tech Mahindra Ltd is up 42.48% in last one year as compared to a 19.6% spurt in NIFTY and a 31.72% spurt in the Nifty IT index.The PE of the stock is 56.79 based on TTM earnings ending September 24.Powered by Capital Market - Live

On a year on year (YoY) basis, Tech Mahindra's net profit soared 153.10% while revenue grew 3.49% in Q2 FY25. 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 hit 52-week high at Rs 1,761.30 intraday today.Powered by Capital Market - Live

On a year on year (YoY) basis, Tech Mahindra's net profit soared 153.10% while revenue grew 3.49% in Q2 FY25. 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 September 2024. Powered by Capital Market - Live

Tech Mahindra announced that the Board of Directors of the Company at its meeting held on 19 October 2024, has recommended a Interim dividend of Rs.15 per share (i.e.300%), subject to the approval of the shareholders.Powered by Capital Market - Live

Net profit of Tech Mahindra rose 153.11% to Rs 1250.10 crore in the quarter ended September 2024 as against Rs 493.90 crore during the previous quarter ended September 2023. Sales rose 3.49% to Rs 13313.20 crore in the quarter ended September 2024 as against Rs 12863.90 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales13313.2012863.90 3 OPM %13.157.11 - PBDT2183.301081.00 102 PBT1713.50615.30 178 NP1250.10493.90 153 Powered by Capital Market - Live

Tech Mahindra will hold a meeting of the Board of Directors of the Company on 19 October 2024.Powered by Capital Market - Live

Tech Mahindra has allotted 1,37,178 equity shares of Rs 5 each under ESOS. With this allotment, the paid up equity share capital has increased to 97,83,49,548 equity shares of Rs 5 each. Powered by Capital Market - Live

Mahindra University (MU) a university established under the Telangana State Private Universities (Establishment and Regulation) Act, 2018 on the land and buildings owned by the company. The company will sale 103 acres of land and 17 buildings with a built-up area of approximately 1,261,149 sq. ft. located at Bahadurpally village, Medchal-Malkajgiri district, Hyderabad, Telangana. The primary objective of the sale is to set up MU as an autonomous institution that focuses on the betterment of society, one which can continue to grow independently. The cash consideration of Rs 535 crore to be received in tranches, over a period of four years along with interest 8.20% per annum, receivable during the said period. The sale is expected to be finalized on or before 30 September 2024, unless mutually extended by the parties. 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 IT major's consolidated net profit jumped 28.82% to Rs 851.5 crore on 1.04% rise in revenue from operations to Rs 13,005.5 crore in Q1 FY25 over in Q4 FY24. The scrip hit a 52-week high at Rs 1,634.25 in intraday today.Powered by Capital Market - Live

Tech Mahindra has approved the sale of and admeasuring approx. 103 acres and buildings admeasuring built-up area of approx. 1,261,149 sq. ft situated at Bahadurpally village, Dundigal Gandimaisamma mandal (earlier Quthbullahpur mandal), Medchal-Malkajgiri district (earlier Ranga Reddy district), Hyderabad, Telangana (Property) to Mahindra University, subject to requisite regulatory approvals. The sale is for a consideration of Rs 535 crore payable over a period of 4 years along with interest. Mahindra University is a university established under the Telangana State Private Universities (Establishment and Regulation) Act, 2018 on the land and buildings owned by the Company. Mahindra Educational Institutions, a section 8 wholly-owned subsidiary of the Company is the sponsoring body of Mahindra University. As no business operations of the Company are carried out on the said land and building being sold, the said sale will not have any impact on the business operations of the Company.Powered by Capital Market - Live

Tech Mahindra has allotted 59,082 equity shares of Rs 5/- each of the Company under ESOP on 14 August 2024. Post allotment, the paid up equity share capital has increased to 97,82,12,370 equity shares of Rs 5 each. Powered by Capital Market - Live