Tech Mahindra revenue up 2.5%


IT services firm Tech Mahindra Ltd. (TECHM:NSI) reported revenue rose 2.5% in its fiscal fourth quarter ended March 31. Profit surged 34.5%. and gross margin also improved at the Pune, India-based firm.

Total headcount was down by 847 quarter over quarter to 121,054.

Tech Mahindra last year acquired Brainscale Inc., a provider of IT services based in Princeton, New Jersey.

(INR millions) Q4 2021 Q4 2020 % change Q4 2021 (USD millions)
Revenue                             97,299                            94,902 2.5%                                                       1,286
Gross profit                             32,803                            28,006 17.1%                                                           434
Gross margin 33.7% 29.5%    
Profit after tax                             10,814                               8,039 34.5%                                                           143

“Our continued focus on cutting-edge technologies has expanded client engagement with large deal wins this quarter,” said CP Gurnani, managing director and CEO of Tech Mahindra. “We are witnessing a strong demand acceleration and are committed towards delivering a next-level human-centered experience of the future.”

It also has been engaged by a leading American network equipment provider as a cloud transformation partner, the company reported.

Fiscal-year 2021

(INR millions) FY 2021 FY 2020 % change FY 2021 (USD millions)
Revenue                          378,551                          368,677 2.7%                                                       5,004
Gross profit                          119,996                          108,934 10.2%                                                       1,586
Gross margin 31.7% 29.5%    
Profit after tax                             44,280                            40,330 9.8%                                                           585

Share price and market cap

Shares in Tech Mahindra closed down 0.82% at INR 1,202.85 (USD 15.55) on Friday in India; shares were 30.75% above the 52-week low, according to The company had a market cap of INR 1.21 trillion (USD 15.6 million).