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Axis Securities Report
Tech Mahindra Ltd. reported better-than-expected results in Q2 FY22. The company’s revenue stood at Rs 10,881 crore, delivering a growth of 6.7% QoQ and 7.1% QoQ in constant currency terms.
However, despite revenue growth, its operating margins remained stable at 15.2%, primarily owing to higher operating costs and employee wage hikes which was only partially offset by a better service mix.
The company’s net income for the quarter stood at Rs 1,339 crore, improving by 25.8% YoY but declining 1% QoQ.
Ramp-up of new deal wins helped Tech Mahindra to generate strong volume growth.
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