Q2 Results Updates: Tech Mahindra Profit Up 5% Yet Misses Estimates; Attrition Stands At 12.8%

With this, we end today's coverage of quarterly results. Key announcements in focus tomorrow include:

• Axis Bank

• HDB Financial Services

• IRFC

• L&T Finance 

• Tata Communications

(This live blog has ended).

• Automotive has been broadly stable

• Logistics segments sees strong tailwind

• Commercial segment continues to face headwinds

Source: Con Call

• CC growth marks strongest growth over last 10 quarters

• Communications segment sees a downtick

• Co recognised as a key player in Govt AI mission

• Deal wins were broad based for Q2

• Eighth consecutive quarter of margin expansion

• Margin expansion on back of currency tailwinds, productivity & increase in volume

Source: Presser

• Revenue in USD is $1,586 million - up 1.4% QoQ, down 0.2% YoY in reported terms and up 1.6% QoQ, down by 0.3% YoY in constant currency terms.

• New deal wins TCV at $816 million

• IT services last 12-month attrition at 12.8%

• Total headcount at 152,714; down 1,559 YoY

Tech Mahindra Q2 Highlights (Consolidated, QoQ)

• Revenue up 4.8% to Rs 13,994.90 crore versus Rs 13,351.20 crore (Estimate: Rs 13,777.50 crore)

• Net Profit up 5% to Rs 1,194.50 crore versus Rs 1,140.60 crore (Estimate: Rs 1,285 crore)

• Ebit up 15% to Rs 1,699.30 crore versus Rs 1,477.10 crore (Estimate: Rs 1,609 crore)

• Margin at 12.1% versus 11.1% (Estimate: 11.67%)

• Announces dividend of Rs 15 per share