Tech Mahindra Q2 net up 26% YoY to Rs 1,339 cr, down slightly sequentially

Firm announces two acquisition in digital space

Tech Mahindra, a top-5 IT services provider, reported a strong set of numbers in the second quarter of FY22, as growth was driven by adoption of 5G, cloud and digital transformation.

The company reported net profit at Rs 1,339 crore up 25.8 per cent, but down 1.1 per cent sequentially. Profits were impacted by higher tax rates in other geographies. The revenue for the quarter grew 16.1 per cent year-on-year at Rs 10,881 crore. Revenue was up 6.7 per cent sequentially.

In dollar terms the company reported revenue growth of 6.4 per cent Q0Q at $1.47 billion, up 7.2 per