{"id":12546,"date":"2022-11-02T10:37:20","date_gmt":"2022-11-02T05:07:20","guid":{"rendered":"https:\/\/univest.in\/blogs\/?p=12546"},"modified":"2022-11-16T11:05:12","modified_gmt":"2022-11-16T05:35:12","slug":"tech-mahindra-and-sun-pharmaceuticals-results-declared","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/tech-mahindra-and-sun-pharmaceuticals-results-declared\/","title":{"rendered":"Tech Mahindra and Sun Pharmaceuticals results declared"},"content":{"rendered":"<p>Tech Mahindra and Sun Pharmaceuticals declared their results on 01st November 2022. Here are some of the key takeaways from the results.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/tech-mahindra-and-sun-pharmaceuticals-results-declared\/#Tech_Mahindra\" title=\"Tech Mahindra\">Tech Mahindra<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/tech-mahindra-and-sun-pharmaceuticals-results-declared\/#Management_Speak\" title=\"Management Speak\">Management Speak<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/tech-mahindra-and-sun-pharmaceuticals-results-declared\/#Sun_Pharmaceuticals\" title=\"Sun Pharmaceuticals\">Sun Pharmaceuticals<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/tech-mahindra-and-sun-pharmaceuticals-results-declared\/#Management_Speak-2\" title=\"Management Speak\">Management Speak<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/tech-mahindra-and-sun-pharmaceuticals-results-declared\/#ABOUT_THE_AUTHOR\" title=\"ABOUT THE AUTHOR\">ABOUT THE AUTHOR<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Tech_Mahindra\"><\/span>Tech Mahindra<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>Tech Mahindra\u2019s net profit for Q2FY23 was down 4% YoY at Rs 1,285 crore due to supply-side pressure. On a QoQ basis, profits grew 13.6%.<\/li>\n<li>Consolidated revenue for Q2FY23 at Rs 13,129 crore was up 20.7%YoY and 3.3% sequentially, driven by growth in CME (communications, media, and entertainment) and the US geography, which grew by 10.3% and 18.4% respectively.<\/li>\n<li>Earnings before interest and tax (EBIT) stood at Rs 1,492 crore, down 9.7 percent YoY but up 6% sequentially. EBIT margin improved 40 basis points to 11.4% from the previous quarter.<\/li>\n<li>Tech Mahindra signed net new deals worth $716 million during Q2FY23. The TCV was lower than the $802 million signed in the preceding quarter and lower than the $750 million TCV signed in Q2FY22.<\/li>\n<li>Tech Mahindra also managed to see its attrition go down. For the Q2FY23 the attrition level was at 20%. In Q1FY23 it was 22 percent. The company added 5,877 employees in Q2, taking its total employee base to 163,912.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Management_Speak\"><\/span>Management Speak<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>C P Gurnani, managing director and CEO,\u00a0of Tech Mahindra<\/strong> &#8220;While market conditions evolve and supply-side challenges continue, we will strengthen our differentiated offerings to help customers in their transformation journey through our integrated &amp; new-age solutions,&#8221;\u00a0He further added that \u201cEurope\u00a0is a concern both from the currency movement and demand. We have seen customers telling us that sales are down and there is stress.\u201d<\/p>\n<p style=\"text-align: right;\"><em>You may also like:<a href=\"https:\/\/univest.in\/blogs\/nestle-india-reported-highest-revenue-and-net-profits-in-last-ten-quarters-in-q3cy22\/\"> <span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Nestle Q3CY22 results &quot;}\" data-sheets-userformat=\"{&quot;2&quot;:769,&quot;3&quot;:{&quot;1&quot;:0},&quot;11&quot;:3,&quot;12&quot;:0}\">Nestle Q3CY22 results <\/span><\/a><\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Sun_Pharmaceuticals\"><\/span>Sun Pharmaceuticals<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>Sun Pharma reported an over 11% rise in its consolidated net profit for Q2FY23 at\u00a0Rs 2,262 crore, on higher sales in the domestic market, as compared to\u00a0Rs 2,047 crore in Q2FY22.<\/li>\n<li>Sun Pharma witnessed a 14% rise in its total revenue from operations at Rs 10,952 crore in Q2FY23 from Rs 9,626 crore in Q2FY22.<\/li>\n<li>Sun Pharma&#8217;s forex gain i.e., gain on foreign currency transactions, rose sharply to Rs 241.4 crore in Q2FY23 versus Rs 76 crore in Q2FY22.<\/li>\n<li>Its India formulation sales came at Rs 34,600 million, up 8.5% over Q2FY22, whereas US formulation was up 14% YoY to $412 million.<\/li>\n<li>Global specialty sales crossed $200 million in Q2FY23, a growth of 27.5% over Q2FY22. Emerging Markets formulation sales stood at $259 million, up by 6.7% over Q2FY22 while rest of World formulation sales at $181 million, was lower by about 3.8% over Q2FY22, impacted by adverse currency movements.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Management_Speak-2\"><\/span>Management Speak<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Dilip Shanghvi, Managing Director of Sun Pharmaceuticals said, \u201cFor Q2, we recorded double-digit topline growth and strong margins driven by market share gain in India, sustained ramp-up of our global specialty business, and growth in Emerging Markets. Global specialty business has grown by 27.5% driven by Ilumya, Cequa, and Winlevi. We continue to focus on expanding our global specialty business and growing all our businesses.&#8221;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"ABOUT_THE_AUTHOR\"><\/span>ABOUT THE AUTHOR<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Ketan Sonalkar (SEBI Rgn No INA000011255<\/p>\n<p>Ketan Sonalkar is a certified SEBI registered investment advisor and head of research at\u00a0<a href=\"https:\/\/univest.in\/\">Univest<\/a>. He is one of the finest financial trainers, with a track record of having trained more than 2000 people in offline and online models. He serves as a consultant advisor to leading fintech and financial data firms. He has over 15 years of working experience in the finance field. He runs Advisory Services for Direct Equities and Personal Finance Transformation.<\/p>\n<p><em>Note \u2013 This channel is for educational and training purpose only &amp; any stock mentioned here should not be taken as a tip\/recommendation\/advice<\/em><\/p>\n<p><em>You may also like: <a href=\"https:\/\/univest.in\/blogs\/bharti-airtel-tata-steel-and-lt-results-declared\/\"><span data-sheets-value=\"{&quot;1&quot;:2,&quot;2&quot;:&quot;Bharti Airtel, Tata Steel and L&amp;T results declared&quot;}\" data-sheets-userformat=\"{&quot;2&quot;:10819,&quot;3&quot;:{&quot;1&quot;:0},&quot;4&quot;:{&quot;1&quot;:2,&quot;2&quot;:16777215},&quot;9&quot;:1,&quot;12&quot;:0,&quot;14&quot;:{&quot;1&quot;:2,&quot;2&quot;:4473924},&quot;16&quot;:10}\">Bharti Airtel, Tata Steel and L&amp;T results declared<\/span><\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tech Mahindra and Sun Pharmaceuticals declared their results on 01st November 2022. Here are some of the key takeaways from the results. Tech Mahindra Tech Mahindra\u2019s net profit for Q2FY23 was down 4% YoY at Rs 1,285 crore due to supply-side pressure. On a QoQ basis, profits grew 13.6%. Consolidated revenue for Q2FY23 at Rs<\/p>\n","protected":false},"author":10,"featured_media":26919,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[620,619,622,621,614,615,616,617,618],"class_list":["post-12546","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market","tag-sun-pharmaceuticals","tag-sun-pharmaceuticals-results","tag-sun-pharmaceuticals-share","tag-sun-pharmaceuticals-share-price","tag-tech-mahindra","tag-tech-mahindra-results","tag-tech-mahindra-revenue","tag-tech-mahindra-share","tag-tech-mahindra-share-price"],"metadata":{"_edit_lock":["1668576771:10"],"_edit_last":["10"],"_nectar_gallery_slider":["off"],"_nectar_quote_author":[""],"_nectar_quote":[""],"_nectar_link":[""],"_nectar_video_m4v":[""],"_nectar_video_ogv":[""],"_nectar_video_poster":[""],"_nectar_video_embed":[""],"_nectar_audio_mp3":[""],"_nectar_audio_ogg":[""],"_post_item_masonry_sizing":["regular"],"_nectar_header_bg":[""],"_nectar_header_parallax":["off"],"_nectar_header_bg_height":[""],"_nectar_page_header_bg_alignment":["top"],"_nectar_header_bg_color":[""],"_nectar_header_font_color":[""],"_wpb_vc_js_status":["false"],"_yoast_wpseo_focuskw":["Tech Mahindra and Sun Pharmaceuticals results"],"_yoast_wpseo_title":["Tech Mahindra and Sun Pharmaceuticals results %%page%% %%sep%% %%sitename%%"],"_yoast_wpseo_metadesc":["Tech Mahindra and Sun Pharmaceuticals declared their results on 01st November 2022. 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