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.
Prabhudas Lilladher Report
Tech Mahindra Ltd. reported modest revenue growth of 1.6% QoQ U.S. dollar, approximately 70 basis points below our and street estimates.
Growth was soft in both communications (up 1.4% QoQ U.S. dollar) and enterprise (up 1.8% QoQ U.S. dollar) segment.
Delay in deal closures and lower-than-expected kicker from Comviva led to revenue miss.
Net new deal win total contract was strong this quarter at $1.04 billion up 129% QoQ and 103% YoY.
But for the full year FY21, net new TCV declined by 40% to $2.2 billion due to weak deal wins in first three quarters.
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