BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Dolat Capital Report
Tech Mahindra Ltd. reported revenue growth of 2.9% QoQ (our estimate 2.1%) led by strong growth in Hi-Tech/banking, financial services and insurance/retail vertical (14%/9.5%/7.5% QoQ).
Ebit margins improved by 410 basis points to 14.2% (our estimate 10.7%) led by easing of supply side factors (160 basis points), higher off-shoring, improved utilisation and lower sub-contracting (160 basis points) gain and savings on visa costs (70 basis points).
Total contract signings were strong at $421 million up 45% QoQ, but still down 13% on trailing twelve month basis.
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