TechMahindra,India’s fifth largest software exporter today announced consolidated financial results for the second quarter ended September 30, 2011.
Financial highlights for the Quarter (INR)
Ø Revenue at INR 1,333 crores; up 3.2{af589cdba9d77786c8c861317dbad60bba1e2ebbf56e2ffab874a1b59fde9ce3} QoQ
Ø Operating Profit (EBITDA) was INR 204.2 crores; down 15.5{af589cdba9d77786c8c861317dbad60bba1e2ebbf56e2ffab874a1b59fde9ce3} QoQ
Ø Earnings per Share (EPS) was INR 18.98 for the quarter ended September 30, 2011
Financial highlights for the Quarter (USD)
Ø Revenue at USD 296.2 mn; up 2.2{af589cdba9d77786c8c861317dbad60bba1e2ebbf56e2ffab874a1b59fde9ce3} QoQ
Ø Revenue on constant currency basis was at USD 298.6 mn, up 3{af589cdba9d77786c8c861317dbad60bba1e2ebbf56e2ffab874a1b59fde9ce3} QoQ
Ø Operating Profit (EBIDTA) was USD 45.3 mn; down 16.2{af589cdba9d77786c8c861317dbad60bba1e2ebbf56e2ffab874a1b59fde9ce3} QoQ
Ø PAT was USD 52.8 mn; up 64{af589cdba9d77786c8c861317dbad60bba1e2ebbf56e2ffab874a1b59fde9ce3} YoY
Other Highlights for the quarter ended September 30, 2011
Ø Total headcount at 43,657. Software Professional headcount stood at 26,665, BPO at 15,875 and Support staff at 1,117
Ø Added 807 personnel during the quarter
Ø Debt was Rs 1,422 crores as of September 30, 2011
Ø Cash and Cash equivalent stood at Rs 278 crores on balance sheet as of September 30, 2011
Vineet Nayyar, Vice Chairman, MD and CEO of Tech Mahindra said, “We have seen yet another quarter of steady growth. Our investment in capabilities has enabled us to achieve this inspite of some headwinds. We remain anchored to building and enhancing our service offerings to meet the needs of the changing market place.”
Key wins and operational highlights
- Tech Mahindra has been engaged with a Tier One Telco in theUSfor providing Performance Testing and Test Management services across their Consumer applications. This win leverages Tech Mahindra’s Testing Centre of Excellence and provides enhanced customer experience and improved operational efficiencies
- Tech Mahindra was selected by a leading North American Telecom Equipment Manufacturer (TEM) as a development and testing partner in the Optical networking domain. Tech Mahindra will assist the customer in reducing time-to-market for one of their state-of-the-art Packet Optical Transport products
- Tech Mahindra has won a multiyear Managed Services engagement with a telecom operator in theMiddle East. Tech Mahindra will also assist the operator in transforming its billing system to ensure greater efficiencies
- Tech Mahindra signed an agreement with one of the leading Equipment Vendor in the Asia Pacific, to focus on proactive propositions to various initiatives in the Networks
- Tech Mahindra has formed a partnership with a leading IT provider inNorth America. As a preferred “service partner”, Tech M will cater to the customer’s internal and external needs along their product R&D services, IT application development managed Services areas.
Business Highlights for Quarter ended September 30, 2011
- Inaugurates Mobile Innovation Lab inBellevue,WA. New facility to help Next Generation mobile devices to become compliant with the stringent standards of North American Operators.
- Tech Mahindra has been recognised with 2011 Microsoft Communications Sector Partner of the Year Award. It was honoured amongst a global field of top Microsoft partners for demonstrating excellence in innovation and implementation of customer solutions based on Microsoft technology
- Tech Mahindra inaugurated its development centre inBonn,Germanywith enhanced facilities. The state-of-the art facility located inSiriusBusinessPark, encompasses fully-equipped infrastructure to service clients inGermanyas well asCentral Europe.
Awards and Recognitions
- Voice and Data has ranked Tech Mahindra as India’s Top Telecom Software Company for the Year 2010 -11
- Tech Mahindra has been ranked amongst top 3 at the ‘DSCI excellence award for security in IT services company for 2011’
- Tech Mahindra tops 2011 Global Services 100 in the following categories:
- Global ITO Vendors
- ADM Vendors
- IM Vendors
- Speciality Product Engineering Vendors Contact Centre and Customer Management Vendors
- Tech Mahindra has been ranked 9th in the NASSCOM Top 20 IT-BPO employers, 2010-2011