Tech Mahindra has announced global revenue of $281 million for Q1 of the fiscal year including operating profits of $60 million, reflecting an increase of 26% QoQ.
The global systems integrator and business transformation consulting services firm also revealed it had witnessed a healthy growth surge in the Middle East and North African (MENA) region.
“[This] is attributed to the company’s recent efforts to expand its solution footprint across six key pillars, which includes applications management, network services, security, Value Added Services (VAS), Infrastructure Management Services (IMS) and Business Process Outsourcing (BPO),” the company said in a statement.
Much of today’s work in the regional market place revolves around IT applications, applications outsourcing, system integration and managed services, which also played a key role in increasing our revenue for the first quarter, TechM stated.
Analytics, cloud and security is slowly picking up its pace in the market, it added.
“The growth that we have achieved for the first quarter of the current fiscal year demonstrates our unique specialisation across the telecommunications market,” said Girish Bhat, vice president, MEA sales & operations, Tech Mahindra.
“The growth was mainly driven in by factors like controlling costs and the strong attention placed by operators towards increasing their revenues. TechM has helped address these issues by enabling businesses and operators to focus on core business and handle key functions like IT and networks.”
Vineet Nayyar, vice chairman, managing director and chief executive officer, Tech Mahindra said, “Our focus on operational efficiencies has led to margin improvement, we continue to focus on expansion of our service offerings and increasing business momentum through customer centricity and increased market coverage.”
Aiming to maintain a continuous growth streak, the company claims that its core focus for the Middle East region and the UAE in particular, will be on the telecommunications market. For the remaining quarters of the year, TechM’s focus markets will include Qatar, UAE and Saudi Arabia. The company also posted a global head count of 40,630 (Software Professional headcount at 24,768, BPO at 14,608 and Support staff at 1,254), with 18 per cent YoY headcount growth onsite in the Middle East.
