Tech Mahindra posted better than expected Q1 results and management commentary is reassuring. April-June quarter (Q1) saw a beat on EBIT margins and profits. Revenue de-grew by 6.3% QoQ In constancy currency terms, fairly in-line with ET NOW poll estimates. EBIT margin expanded by 10bps QOQ to 10.1% and profits grew by 21% to Rs 972 crore. New deal wins on expected lines were at USD 290mn vs about USD 513 Mn last quarter. Cash conversion strong at 246% of the profit. CP Gurnani, Managing Director & Chief Executive Officer, Tech Mahindra, said, 
We are witnessing a wave of new-age technologies being adopted by the customers as businesses across the globe are actively pursuing digital transformation. We are well-positioned to capture such spends and our endeavour is to be back on the growth path amid increased signs of demand normalization.

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