Tech Mahindra posted in-line results for 2QFY2018 on all fronts except net profit. In Rupee terms, revenues came in at `7,606cr v/s. `7,582cr expected, up 3.7% qoq. On the operating front, the utilization levels during the quarter came in at 81% v/s. 77% in 1QFY2018, which along with volume also aided the margins to come in higher. On the operating front, the EBITDA margin, came in at 14.5% (14.0% expected) v/s. 12.7% in 1QFY2018, a qoq expansion of 50bps. Consequently, PAT came in at `839cr v/s. `886cr expected, a growth of 6.0% qoq. We maintain our Accumulate rating, with a Target Price of `526.
Download Full Report View Full Report in BrowserPlease Wait...
Please Wait...
Please Wait...
Please Wait...
Please Wait...
Please Wait...
Please Wait...
Please Wait...
Please Wait...
Please Wait...
Please Wait...
Please Wait...