Tech Mahindra has announced its Q2 FY22, the period ending September 30, 2021:

Q2 FY22:

• Revenues were $1,472.6m, up 16.4% y/y and 15.5% CC
• EBIT was $223.4m, a margin of 15.2%, up 0.9 pts.

Q2 FY22 NH revenue estimate (and y/y revenue growth) by vertical was:

• Communications: $592m (+16.1%)
• Manufacturing: $236m (+14.1%)
• Technology, media & entertainment: $133 (+16.6%)
• BFSI: $240m (+15.9%)
• Retail, transport & logistics: $115m (+17.6%)
• Others: $159m (+20.6%).

Q2 FY22 NH revenue estimate (and y/y revenue growth) by geography was:

• Americas: $704m (+14.9%)
• Europe: $381m (+19.9%)
• Rest of the world: $387m (+15.7%).

Q2 FY22 revenue (and y/y revenue growth) by service line was:

• IT services: $1,296m (+14.0%)
• BPO services: $177m (+36.9%).

Headcount at the end of Q2 FY22 was 141,193, up 13.6% y/y. The breakdown was:

• Software professional: 76,800 (+10.5% y/y)
• BPO professionals: 57,058 (+17.7%)
• Sales & support: 7,335 (+16.7%).

Attrition was 21% (Q2 FY21: 14%). Utilization rate was 87% (Q2 FY21: 85%).