Tech Mahindra - Margin Continues To Improve In Q3: ICICI Direct 
Tech Mahindra campus in Hyderabad. (Photographer: Dhiraj Singh/Bloomberg)

Tech Mahindra - Margin Continues To Improve In Q3: ICICI Direct 


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.

ICICI Direct Report

Tech Mahindra Ltd.’s revenues increased 2.8% QoQ in constant currency terms (above our estimate of 1.6% QoQ in CC terms) mainly led by 4.5% QoQ growth in communication revenues and 2.7% QoQ growth in enterprise revenues.

The company also reported a healthy expansion in Ebitda margins (up 156 basis points QoQ to 19.6%) mainly led by higher utilisation and gross margin expansion.

The order book improved 8.1% QoQ to $455 million.

Click on the attachment to read the full report:

ICICI Direct Tech Mahindra Q3FY21 Result Update.pdf


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