Tech Mahindra announced Q1FY23 results:

• In $:
  • Revenue at $ 1,632 million; up 1.5% QoQ and up 18.0% YoY
    • Revenue growth 3.5% QoQ in constant currency terms
  • EBITDA at $ 239 million; down 13.5% QoQ, down 6.2% VoY
    • EBITDA margin at 14.8%
  • Profit after tax (PAT) at $ 143 million; down 28.0% QoQ and down 22.0% YoY
  • Free cash flow at $ 71.6 million, conversion to PAT at 50.2%
• In Rs:
  • Revenue at Rs 12,708 crores; up 4.9% QoQ and up 24.6% YoY
  • EBITDA at Rs 1,880 crores; down 10.0% QoQ, up 0.2% YoY
  • Consolidated PAT at Rs 1,132crores; down 24.8% QoQ and down 16.4% YoY
• Other:
  • Total headcount at 158,035 up 6,862 QoQ
  • Cash and Cash Equivalent at $ 1,114 million as of June 30, 2022

CP Gurnoni, Managing Director & Chief Executive Officer, Tech Mahindra, said, "We are starting this fiscal with a renewed commitment towards delivering consistent organic growth. We remain resilient and watchful given the dynamic global macro-economic environment and will continue to invest in new and emerging technologies to deliver differentiated offerings. Our winning strategy rests on the pillars — ‘Purpose, People and Performance’ which is aiding us to responsibly capitalize on the strong demand environment in the market.”

Rohit Anand, Chief Financial Officer, Tech Mahindra, said, “Delivery transformation, cost optimization and cash conversion will be key focus areas, as we continue to offset the strong supply side headwinds in the market. We aim to expand our profitability through operational excellence and improved operating metrics over the course of FY’23.”

Result PDF