Tech Mahindra Q1 revenue at Rs 4,103 crore, up 22 %

Tech Mahindra, a specialist provider of connected solutions to the connected world, today announced its second quarter revenue at Rs 4,103 crore, up 22 percent Y-o-Y and 9 percent Q-o-Q.

Consolidated net profit after tax (PAT) for Q1 is at Rs 686 crore up 27 percent Y-o-Y and 7.6 percent Q-o-Q. Earnings per Share (EPS) was Rs 29.60 for the quarter ended June 30, 2013.

Vineet Nayyar, executive vice chairman, Tech Mahindra said, “We have completed one of the largest mergers in Indian corporate space this quarter in a seamless fashion, fulfilling the commitment we made in April 2009. Our robust performance reinforces our belief in the inherent strength and cross leveraging possibilities, for the integrated entity.”

CP Gurnani, MD, Tech Mahindra said, “IT consumerization, unified networks, internet of things, big data, faster analytics and supercomputing have become the primary drivers of business efficiency now. We are leveraging our collective expertise in cloud, analytics, social, security, mobility and networks to create digital enterprises globally, powered by an entrepreneurial culture and the veritable power of a unified combine.”

In terms of key wins, Tech Mahindra signed with a leading European mobile telephone major for a multi-country terminal testing deal in Europe which involves test engineering and consulting support.

The company has also signed an engagement with a wireless broadband services provider in Africa for the deployment and management of overall IT infrastructure of Long Term Evolution (LTE) Greenfield Operations. The company also won an application development deal from a leading US wireless services provider.

The company bagged a multi-million dollar system integration and managed services deal across 6 – 7 countries in Asia and Africa by from a leading emerging market telco. Tech Mahindra established its first European Testing Lab in Sweden which is in continuation with its efforts to provide end to end test solutions to device manufacturers.

Total headcount for the year was at 83,063 of which software professional headcount stood at 53,337, BPO at 23,269 and sales & support at 6,457.

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