Tech Mahindra posts $281m in global revenue

Tech Mahindra, a global systems integrator and business transformation consulting services firm exclusively focused on the communications industry, has released the consolidated financial results for its first quarter for the fiscal year 2012-2013, revealing over $281 million, flat QoQ in global revenue for Q1 that ended on June 30, 2012. The company also posted operating profits (EBIDTA) worth over $60 million, which reflects an increase of 26 per cent QoQ. For the Middle East and North African (MENA) region alone, TechM witnessed a healthy growth surge, which is attributed to the company’s recent efforts to expand its solution footprint across six key pillars, which includes applications management, network services, security, Value Added Services (VAS), Infrastructure Management Services (IMS) and Business Process Outsourcing (BPO). Amidst recent events in the Middle East, the IT spending behavior of telecommunication companies has veered heavily onto the turnkey outsourcing of applications in the BSS/OSS space. According to TechM, much of the work in today’s regional market place revolves around IT Applications, Applications Outsourcing, System Integration and Managed Services, which also played a key role in increasing its revenue for the first quarter. The company also stated that analytics, cloud and security is slowly picking up its pace in the market. “The growth that we have achieved for the first quarter of the current fiscal year demonstrates our unique specialization across the telecommunications market,” said Girish Bhat, Vice President, MEA Sales & Operations, Tech Mahindra. “The growth was mainly driven in by factors like controlling costs and the strong attention placed by operators towards increasing their revenues.” From:Gulftoday