Dubai – August 11, 2014: Tech Mahindra Ltd. a specialist in digital transformation, consulting and business re-engineering today announced the audited consolidated financial results for its first quarter ended June 30, 2014. Revenue stood at USD 855 mn; up 18.1% YoY and 3.6% QoQ. Net profit after tax (PAT) for Q1 at USD 105 mn, up 4.3% QoQ
Financial highlights for the quarter (USD)
“The growth momentum for Tech Mahindra continues to be powered by strategic investments and capability building. Our agility to perform in rapidly changing economic conditions speaks volumes about the trust shown by our customers in us. The results are aligned favorably towards us becoming a ‘partner of choice’ for developing transformational solutions and making enterprises future ready,”saidVineet Nayyar, Executive Vice Chairman, Tech Mahindra.
“Our robust performance during the quarter sets the tone for rest of the year,” said CP Gurnani, MD & CEO, Tech Mahindra. “Our customers have shown a remarkable appetite for the “connectedness revolution” and are readying themselves for the disruptions in future. Tech Mahindra with Telecom as a horizontal differentiator augurs well with the customers in this potentially disruptive landscape.” CP Gurnani added.
“These are truly exciting times for the Middle East region, which has demonstrated key growth over the last few years. As such, the region has become a key contributor to the company’s revenues; prompting us to leverage our global expertise in IT across strategic partnerships with both the private and public sectors -- government bodies and local industry leaders—providing them with game-changing solutions that not only adds value and address the challenges they are facing but also places them ahead of their competition. Rest assured, Tech Mahindra will remain steadfast in continuing to provide a wide gamut of IT and IT-enabled services (ITES) to cater to the established and emerging sectors in the ME. In addition, we are also looking towards expanding our presence in the region, not only for the purpose of revenue and profits but to also offer exciting career opportunities for the talented men and women in the Middle East,” said GB Kumar, Vice President and Geo Head – Middle East, Africa and Turkey, Tech Mahindra.
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