Tech Mahindra, India’s fifth largest software exporter today announced Audited consolidated financial results for the third quarter ended December 31, 2011.
Financial highlights for the Quarter (INR)
- Revenue at INR 1,445 crores; up 8.4{af589cdba9d77786c8c861317dbad60bba1e2ebbf56e2ffab874a1b59fde9ce3} QoQ
- Operating Profit (EBITDA) was INR 234 crores; up 14.7{af589cdba9d77786c8c861317dbad60bba1e2ebbf56e2ffab874a1b59fde9ce3} QoQ
- Profit After Tax at INR 276 crores up 14.8{af589cdba9d77786c8c861317dbad60bba1e2ebbf56e2ffab874a1b59fde9ce3} QoQ
- Earnings per Share (EPS) was INR 21.8 for the quarter ended December 31st, 2011
Financial highlights for the Quarter (USD)
- Revenue at USD 289 mn; up 7.4{af589cdba9d77786c8c861317dbad60bba1e2ebbf56e2ffab874a1b59fde9ce3} YoY
- Revenue on constant currency basis was at USD 295 mn
- Operating Profit (EBIDTA) was USD 46 mn; up 2.3{af589cdba9d77786c8c861317dbad60bba1e2ebbf56e2ffab874a1b59fde9ce3} QoQ
- PAT was USD 54 mn; up 1.5{af589cdba9d77786c8c861317dbad60bba1e2ebbf56e2ffab874a1b59fde9ce3} QoQ
Other Highlights for the quarter ended December 31, 2011
- Total headcount at 42,746. Software Professional headcount stood at 25,218, BPO at 16,419 and Support staff at 1,109
- Debt was Rs 1,376 crores as of December 31, 2011
- Cash and Cash equivalent stood at INR 321 crores on balance sheet as of December 31, 2011
Vineet Nayyar, Vice Chairman, MD and CEO of Tech Mahindra said, “We have had a satisfactory quarter, with growth in both revenue and margins. This is a result of our investments in growth markets, and in emerging technologies. We continue to focus on delivering enhanced value to our customers in an uncertain economic environment”
Key wins and operational highlights
- Tech Mahindra has been appointed by a major media company in Latin America to provide maintenance and support to the client’s legacy applications in telecom billing domain.
- Won a strategic multiyear contract as a system Integration partner for one of the largest cable operator (providing digital and analog cable television, Broadband & Telephony services) in Benelux region. Tech Mahindra will develop new systems to provide integration, fulfilment, and Identity management and mediation services. As an SI TechM will drive the delivery of IT systems stack for MVNO Converged Services.
- Chosen by a telecom service provider in Europe on a multiyear contract for implementation of BI services and also execute a multiyear managed services engagement.
- Won a deal from a Tier I telecom operator in North America on Wi-Fi services in Network Support Systems area. Tech Mahindra will provide managed public and private networking services for the Wi-Fi network and the customers of the telecom operator.
Partnerships
- Tech Mahindra signed a MOU with SITRONICS India to promote the OSS/BSS-solutions of SITRONICS India. In the framework of the agreement, Tech Mahindra will promote the OSS/BSS-solutions of SITRONICS India in the Indian market and both the parties would mutually explore and leverage their expertise in development, implementation and support of different IT solutions.
- CanvasM Technologies, Tech Mahindra’s VAS subsidiary and Polaris Wireless, have entered a strategic partnership to introduce the first high-accuracy, network based wireless location solution for the Indian market. The solution would enable increased revenue opportunities for mobile operators, in value added services and location-based services.
- Tech Mahindra signed a MOU with Kaspersky Lab. Under the MOU Kaspersky Lab, along with Tech Mahindra and Mahindra Satyam will leverage their strengths in security products and services to develop joint security solutions in the areas of Mobility and Endpoint Security and Cloud Security Services
- CanvasM launched ‘Saral Rozgar’ in collaboration with TATA DOCOMO. It’s a first of its kind mobile VAS solution from CanvasM targeted at providing flexible and end-to-end solution utility based services for to bottom of the pyramid, the Blue Collar job segment.
Awards and Recognitions
- Voice & Data ranks CanvasM, Tech Mahindra’s VAS subsidiary, amongst India’s Top 10 VAS players
- MIS Asia has ranked Tech Mahindra in the Regional Top 20 coveted group