Tech Mahindra (TechM), a global systems integrator and business transformation consulting services firm exclusively focused on the communications industry, has released the consolidated financial results for its first quarter for the fiscal year 2012-2013, revealing over USD 281 million in global revenue for Q1 that ended on June 30, 2012. The company also posted operating profits worth over USD 60 million, which reflects an increase of 26% QoQ.
For the MENA region alone, TechM witnessed a healthy growth surge, which was 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).
Amidst recent events in the Middle East, the IT spending behaviour of telecommunication companies has veered heavily onto the turnkey outsourcing of applications in the BSS/OSS space. According to TechM, much of the work in today’s regional market place revolves around IT applications, applications outsourcing, system integration and managed services, which also played a key role in increasing its revenue for the first quarter. The company also stated that analytics, cloud and security is slowly picking up its pace in the market.
“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, VP, MEA sales and 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. Over the years, we have managed to maintain strong relationships with leading operators in the Middle East region and with the take over of Mahindra Satyam, we will have the strategic advantage of offering solutions that give our customers a full 360 degree view of their businesses.”
Vineet Nayyar, vice chairman, MD and CCEO, 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’s core focus for the Middle East region and the UAE in particular, will be on the telecommunications market, it was reported. For the remaining quarters of the year, TechM’s focus markets will include Qatar, UAE and Saudi Arabia, representatives said. The company also posted a global head count of 40,630 with 18% YoY headcount growth onsite in the Middle East.
