Tech Mahindra - Strong Q4 Execution, Expect Broad Based Recovery: Axis Securities
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Axis Securities Report
Tech Mahindra Ltd. reported better than expected results in Q4 FY21 in terms of margins.
Revenue for the period of Q4 FY21 stood at Rs 9,730 crore, growing by 1.6% QoQ and 0.7% QoQ in constant currency terms.
Operating margin reported strong growth of 130 basis points and stood at 16.5% and was aided mainly by strong volume growth, lower onsite expenses and higher utilization.
Net income de-grew by 2.3% QoQ and stood at Rs 1,081 crore.
Its top line has seen improvement mainly due to improved supply-side constraints.
Communication vertical improved by 1.4% QoQ while enterprise verticals grew by 1.8% QoQ in constant currency terms.
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