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Tech Mahindra Q3 revenue at US$ 924 million

Anuradha Shukla | Feb. 5, 2015
Financial result for its third quarter ended December 31, 2014.

Tech Mahindra revenue was at US$ 924 million, according to the financial result for its third quarter (Q3) that ended on December 31, 2014.

The audited and consolidated financial results for the company show its revenues up by 16.8 % year on year and up 2.7 % quarter on quarter (QoQ).

Revenue in constant currency was up by 4.9% QoQ and its operating profit (EBITDA) at US$ 186 million was up 3.6% QoQ.

Consolidated profit after tax (PAT) is at US$ 129 million, up 9.5% QoQ.

"Despite seasonal weakness of the third quarter and currency volatility, Tech Mahindra turned in a fairly robust performance. Our continued focus on operational excellence is yielding tangible results for our stakeholders." said Vineet Nayyar, executive vice chairman, Tech Mahindra.

Key wins

Tech Mahindra was chosen by a major airline in the Asia Pacific region to manage its end-to-end infrastructure management.

It was selected by a large European Automotive company to provide end-to-end managed services for its applications and systems; and was picked by a global leader in storage solutions for its multi-year SAP application and maintenance support services.

The company merged with Mahindra Engineering Services (MES) and signed a definitive agreement to acquire global network services leader Lightbridge Communications Corporation (LCC).

Tech Mahindra was ranked as leader in Global Engineering R&D Service Providers Rating and was amongst BT500 Top 50 Companies in Business Today's India's Most Valuable Companies rankings.

"We believe our service portfolio coupled with the tuck-in acquisitions like MES have augmented our growth aspirations well, this quarter. We will make greater investments into Digital Transformation and ride the wave of opportunities that spot the business landscape today," said CP Gurnani, MD & CEO, Tech Mahindra.



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