Next 2 quarters look good; aim high margins: Tech Mahindra

"Acquisition is a part of our strategy and it was the only option given that we entered the market late," Executive Vice Chairman Vineet Nayyar said.

Tech Mahindra is big in the replacement market

Vineet Nayyar

Executive Vice Chairman

Tech Mahindra

IT major  Tech Mahindra is confident of performing well in the next two quarters. In an interview to CNBC-TV18, Executive Vice Chairman Vineet Nayyar said that the company will endeavour to keep its margins high. 

The company's operating profit margin in Q1FY15 dropped 310 basis points sequentially to 18.1 as against analysts' expectations of 19.6 percent. Consolidated net profit increased by 2.7 percent quarter-on-quarter as against forecast of 8.1 percent growth but it beat street expectations on dollar revenue front that grew by 3.6 percent Q-o-Q to USD 855 million as against expectations of 3 percent growth.

Sharing views on the Indian IT sector, Nayyar said that India will continue to be a major force in global IT services and technology space.

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Tech Mahindra stock price

On August 11, 2014, at 11:10 hrs Tech Mahindra was quoting at Rs 2182.50, down Rs 4.75, or 0.22 percent. The 52-week high of the share was Rs 2230.05 and the 52-week low was Rs 1227.20.

The company's trailing 12-month (TTM) EPS was at Rs 111.28 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 19.61. The latest book value of the company is Rs 365.74 per share. At current value, the price-to-book value of the company is 5.97.

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