IT company Tech Mahindra announced Q2FY23 results: In $: Revenue at $ 1,638 million; up 0.3% QoQ and up 11.2% YoY Revenue growth 2.9% QoQ in constant currency terms EBITDA at $ 246 million; up 2.9% QoQ, down 9.0% YoY EBITDA margin at 15.1%, up 30 bps Profit after tax (PAT) at $ 159 million; up 11.2% QoQ and down 12.3% YoY Free cash flow at $ 253 million, conversion to PAT at 159% In Rs: Revenue at Rs 13,129 crore; up 3.3% QoQ and up 20.7% YoY EBITDA at Rs 1,984 crore; up 5.5% QoQ, down 0.6% YoY Consolidated PAT at Rs 1,285 crore; up 13.6% QoQ and down 4.0% YoY The Board has approved a special dividend of Rs 18/- per share (360%) on the FV of Rs 5. CP Gurnani, Managing Director & Chief Executive Officer, Tech Mahindra, said, "We continue to focus on being resilient and agile to ensure long-term value for our people, customers, partners, and the society at large. While market conditions evolve and supply-side challenges continue, we will strengthen our differentiated offerings to help customers in their transformation journey through our integrated & new-age solutions." Rohit Anand, Chief Financial Officer, Tech Mahindra, said, "We have taken several targeted measures to achieve operational efficiencies and ensure long term sustainable growth. While we continue to address the dynamic market conditions, we will remain focused on creating value for our stakeholders, through continued operational rigor, robust cash generation and prudent capital a/location. Additionally, we have also announced a special dividend of INR 18 per share, in line with our capital a/location policy." Result PDF
Conference Call with Tech Mahindra Management and Analysts on Q2FY23 Performance and Outlook. Listen to the full earnings transcript.