Tech Mahindra, India’s sixth largest software exporter y’day announced its audited consolidated financial results for the second quarter ended September 30th, 2012.
Financial highlights for the Quarter (INR)
- Revenue at INR 1,631 crore; up 22{af589cdba9d77786c8c861317dbad60bba1e2ebbf56e2ffab874a1b59fde9ce3} YoY
- Operating Profit (EBITDA) at INR 338 crore; up 65{af589cdba9d77786c8c861317dbad60bba1e2ebbf56e2ffab874a1b59fde9ce3} YoY
- PAT before share of Associate at INR 178 crore up 28{af589cdba9d77786c8c861317dbad60bba1e2ebbf56e2ffab874a1b59fde9ce3} YoY
- PAT including share of Associate at INR 296 crore up 23{af589cdba9d77786c8c861317dbad60bba1e2ebbf56e2ffab874a1b59fde9ce3} YoY
- Earnings per Share (EPS) was INR 23.2 for the quarter ended September 30th, 2012
Financial highlights for the Quarter (USD)
- Revenue at USD 299 mn; up 1{af589cdba9d77786c8c861317dbad60bba1e2ebbf56e2ffab874a1b59fde9ce3} YoY
- Revenue on constant currency basis was at USD 298 mn
- Operating Profit (EBITDA) was USD 62 mn; up 37{af589cdba9d77786c8c861317dbad60bba1e2ebbf56e2ffab874a1b59fde9ce3} YoY
- PAT before share of Associate at USD 33 mn; up 6{af589cdba9d77786c8c861317dbad60bba1e2ebbf56e2ffab874a1b59fde9ce3} YoY
- PAT including share of Associate at USD 55 mn; up 4{af589cdba9d77786c8c861317dbad60bba1e2ebbf56e2ffab874a1b59fde9ce3} YoY
Other Highlights for the quarter ended September 30, 2012
- Hutchison Global Services (HGS) was consolidated from this quarter. HGS had employee strength of 12,011 as of 30th Sept 2012
- Total headcount (including HGS) stood at 50,479. Software Professional headcount at 24,224, BPO at 25,003 and Support staff at 1,252
- Debt at INR 1,286 crore as of September 30, 2012; vs INR 886 crore in Q1
- Cash and Cash equivalent stood at INR 359 crores as of September 30, 2012 versus INR 280 crores in Q1
- Won two key customers in Europe
Vineet Nayyar, Executive Vice Chairman of Tech Mahindra said, “This has been an eventful quarter for us with some wins and key non organic initiatives. Our focus on expanding capabilities to service our customers better has helped us gain traction in the market place and deliver a robust performance. ”
C P Gurnani, Managing Director of Tech Mahindra said, “Tech Mahindra has delivered another stable quarter. Our key wins showcase the confidence our customers are reposing in us.. Our non organic growth journey has started well with two key additions to our portfolio. We continue with our focus on development of new platforms with our NMACS strategy as a key differentiator”
Key wins
- Tech Mahindra and Royal KPN N.V. (“KPN”) entered in to an International partnership to further improve KPN’s efficiency and effectiveness in its IT environment and operational processes and to jointly address strategic growth areas. As a first step both companies have signed a multi-million, multi-year contract for development and support of over 150 applications in the operational IT systems of KPN
- Won a multi-year multi-million dollar Managed services contract from a leading Telco in UK. As part of the contract, TechM will be providing ICT Operations Managed Services along with running a Service Operations transformation program over the contract duration
- Partnered with a MVNO to assist them in their global service roll out across multiple countries
- Awarded a System Integration and Managed services project by a Middle East Telco to help transform its existing billing system and migrate to a new platform.
Business Highlights
- Tech Mahindra limited announced the 100 {af589cdba9d77786c8c861317dbad60bba1e2ebbf56e2ffab874a1b59fde9ce3} acquisition of Hutchison Global Services (HGS) for $ 87.1 Mn. This acquisition will give Tech M an edge in customer life cycle operations to clients in UK, Ireland and Australia. The major operating centres will be Mumbai and Pune and is amongst the largest captives in the Telecom domain
- Announced the acquisition of 51{af589cdba9d77786c8c861317dbad60bba1e2ebbf56e2ffab874a1b59fde9ce3} stake in Comviva Technologies Ltd, a Bharti group Company. This acquisition will leverage Comviva’s expertise in providing mobile Value added Services, Mobile money and Mobile payment solutions. The new brand identity will be Mahindra Comviva reflecting the combined strength and spirit of both entities
- Announced a partnership with Aeris Communications, a leading cellular carrier built exclusively for machine-to-machine communication. This partnership will catapult Tech Mahindra’s ability to offer the leading M2M platform to cellular operators globally
Awards and Recognitions
- Tech Mahindra wins ‘Top Telecom Software Company’ award at Cybermedia ICT awards. The awards, now in their 20th year, are given by Dataquest and Voice & Data to honor top IT & Telecom companies for their performance.
- Tech Mahindra wins the “ASTD BEST” 2012 award. The American Society for Training and Development is the training industry’s most rigorous and coveted recognition. The award recognizes organizations that demonstrate enterprise-wide success through employee learning and development.
- Canvas M was awarded the CMO Asia – Best CIO award for use of IT for social cause and use of CSR practices in IT Industry.
- Canvas M awarded the National Telecom Award for Fightback 2012
