GEC NEWS WIRECompany’s global revenues reached USD 791 million; up 17.2 per cent YoY and 4.4 per cent QoQ
Tech Mahindra has announced significant growth in their top line in the Middle East and North African region including Turkey (MENA) for the third quarter, ending December 31, 2013, compared to the same period in the previous fiscal year. The consolidated financial results were announced as part of the company’s global third quarter financial results.
GB Kumar, Vice President and Geo Head – Middle East, Africa and Turkey, Tech Mahindra, said, that Tech Mahindra showed technology leadership with key wins in prestigious government projects across the region. There were also top corporate wins across multiple verticals from Utilities to education in the MENA region, he added.
Today, Tech Mahindra’s pipeline of project opportunities in the MENA region exceeds USD 350 million. The company is currently engaged in more than 50 important projects in the region. The total revenues of Tech Mahindra’s MENA business was up 50 per cent compared to the same period in the previous year, The company’s global revenues reached USD 791 million; up 17.2 per cent YoY and 4.4 per cent QoQ.
Kumar added, “We are happy to note that Tech Mahindra has achieved excellent growth figures for the third quarter of the current fiscal year. The growth is also the result of the company’s focus on non-linear growth engines in the MENA region, which also shows the possibilities of joint venture, acquisitions and business value consulting. Feeling bullish on more growth towards the end of the fiscal year, we are seeing the next wave of transformative growth coming in as a result of forging the right alliances, partnerships and acquisitions. This posted increase in revenue reflects the positive response that we have received towards our commitment to leverage key IT solutions and services across various industry verticals in the Middle East. We expect MENA revenues to grow faster as compared to the global average IT budget outlook and growth scenario thereof.”
