Tech Mahindra Q1 Results: Profit, EBITDA to deal wins - five key takeaways from IT major's earnings

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₹13,159 crore. Consolidated PAT (profit after tax) for the quarter under review came at ₹693 crore, down 38 per cent QoQ and 38.8 per cent YoY. Tech Mahindra's EBITDA for Q1FY24 came at ₹1,338 crore, down 33.8 per cent QoQ and 28.8 per cent YoY.

Earnings per share (EPS) was at ₹7.82. Read more: Tech Mahindra Q1 Results: Net profit declines 38% to ₹692.3 crore on weakness in key segments The company said in Q1FY24, it saw a net new deal win (in terms of the total contract value) of $359 million, against $802 million in the same quarter last year and $592 million in Q4FY23. The company saw a fall in the total number of headcounts on both a yearly and quarterly basis.

As per its exchange filing, the total headcount as of June 30, 2023, was 1,48,297 which was down 6.2 per cent YoY and 2.7 per cent QoQ. On expected lines, the company's CME (communications, media and entertainment) vertical exhibited a poor show, witnessing an 8.2 per cent YoY and 9.4 per cent QoQ decline in revenue. Revenue of BFSI (banking, financial services and insurance) segment saw a 5.4 per cent YoY and 3.2 per cent QoQ decline.

Retail, transport and logistics segment saw a 2 per cent YoY and 0.3 per cent QoQ decline in revenue. However, the manufacturing segment's revenue rose 8.6 per cent YoY and 1.8 per cent QoQ. The technology segment also saw an 8 per cent YoY and 0.1 per cent QoQ rise in revenue.

Revenue in the Americas rose 1.4 per cent YoY but declined 0.5 per cent QoQ. Europe revenue fell 5.4 per cent YoY and 6.7 per cent QoQ. In the 'rest of the world' market segment, revenue fell 5.2 per cent YoY and 8.2 per cent QoQ.