GEC NEWS WIREAnnounces first set of results post merger withrRevenue at USD 724 Million
Tech Mahindra has announced its robust, audited consolidated financial results for the quarter ending June 30, 2013. Revenue stood at USD 724 million up 17.7% YoY and 3.7% QoQ. Consolidated net profit after tax (PAT) for Q1 was at USD 121 million up 22.3% YoY and 2.1 % QoQ.
Vineet Nayyar, Executive Vice Chairman, Tech Mahindra, said, “We have completed one of the largest mergers in Indian corporate space this quarter in a seamless fashion, fulfilling the commitment we made in April 2009. Our robust performance reinforces our belief in the inherent strength and cross leveraging possibilities, for the integrated entity.”
Tech Mahindra was selected by one of the largest reinsurers in Europe for a multi-year multi-million infrastructure outsourcing engagement. The scope involves infrastructure management including workspace, data centre, service desk communication and networks.
C P Gurnani, Managing Director of Tech Mahindra said, “IT Consumerization, Unified Networks, Internet of Things, Big Data, Faster Analytics and Supercomputing have become the primary drivers of business efficiency now. We are leveraging our collective expertise in Cloud, Analytics, Social, Security, Mobility and Networks to create Digital Enterprises globally, powered by an entrepreneurial culture and the veritable power of a unified combine.”
GB Kumar, Vice President and Geo Head for the Middle East, Africa & Turkey, Tech Mahindra, said, “These are truly exciting times for the IT industry–where growth continues to pour in, accompanied by the emergence of newer technologies and innovations. Strategically, Tech Mahindra is positioned at the heart of all this growth, highly enabling businesses to place strong focus on their core business and to help them handle key IT and network functions. The major wins that we have gained over the last few months prove as testament to the strong bond of trust and confidence given to us by businesses across various industry verticals and reflect the premium of commitment that we have placed on providing service par excellence to our clients.”
