Tech Mahindra expects to bring down attrition in next 2 quarters; maintain deal wins at $750mn-1bn

Tech Mahindra, on Monday, reported a 26 percent increase in its Q2 net profit at Rs 1,338.7 crore. The company's overall revenue was up 16.1 percent at Rs 10,881.3 crore in the second quarter of this fiscal, higher by 6.4 percent and highest in a decade when compared with the preceding June quarter. The company had reported a net profit of Rs 1,064.6 crore in the July-September quarter of 2020. In an interview with CNBC-TV18, CP Gurnani, MD & CEO, and Milind Kulkarni, CFO of the company, spoke at length about the numbers.

First up, Gurnani said, “The reason for our record performance is clear that communication, media and entertainment led growth with 7.7 percent in constant currency. We are also very proud that we have one of the healthiest geographic mixes in the business.”

“Our US business is less than 50 percent, we do about 25-26 percent from the UK and Europe and from the rest of the world we do 25-26 percent, which means that in terms of revenue by geography percentage, we are in a better position because we serve 90 countries,” he said.