Thursday, July 31, 2014

#Tech Mahindra Q1 net profit at Rs.631 crore,down 8%

Tech Mahindra Q1 net profit falls 8% to Rs.631 crore from Rs.686 crore in the same quarter last year.

Financial highlights for the quarter (INR)
Revenue at INR 5,122 crore; up 24.8% YoY and 1.3% QoQ
Operating profit (EBITDA) at INR 928 crore; down 13.4% QoQ
Consolidated PAT at INR 631 crore, up 2.7% QoQ
Earnings per Share (EPS) was INR 27.0 for the quarter ended June 30, 2014

Financial highlights for the quarter (USD)
Revenue at USD 855 mn; up 18.1% YoY and 3.6% QoQ
Operating profit (EBITDA) at USD 155 mn; down 11.9% QoQ
Consolidated PAT at USD 105 mn, up 4.3% QoQ

Other Highlights
Total headcount at 92,729; adds 3,288 professionals during the quarter
Software headcount stood at 64,095; BPO at 21,936
Debt at INR 86 crore as of June 30, 2014; repaid debt of INR 277 crore during Q1
Cash and Cash equivalent at INR 3,669 crore as of June 30, 2014
Active Client count stood at 632 in Q1 vs 629 in Q4FY14

“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.” Said, Vineet 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.

Key Wins:
Entered into a managed services agreement with a Tier 1 telecom operator in European region for complete IT and Infra transformation. Tech Mahindra would help the client evolve as a digital enterprise by keeping pace of change, sustain business demand and improve customer experience in a highly competitive market

Won a global applications development deal from a European food and beverage major. Tech Mahindra will develop global and regional applications enabling client to adopt an end to end managed services model ensuing optimized cost

Selected by one of largest US devices and software firm to provide Applications Support Services on managed outcome model facilitating automation along with process and cost optimization

Chosen by a leading telecom provider in UK to provide design, development and testing support in the IP VPN (Virtual Private Network) domain.

Won a Business Intelligence data foundation deal from a Fortune 10 Global Oil major

Engaged by a leading telecom equipment manufacturer to provide Global Infrastructure Support Services. Tech Mahindra will provide seamless support to scale the business needs of the client.

A leading European Telco has chosen Tech Mahindra for its Digital Online Transformation. The deal encompasses digitalization of online channels and consolidation of its multiple portal interfaces

Selected by an American Technology Multinational Corporation for providing customized supply chain planning and solutions to manage its new product portfolios.

Chosen by a leading US Telco for its Infrastructure Management support services.

Won a deal from a Leading Utilities Company in Middle East for a Oracle based Transformational project on Utility application Systems and Enhancement

A Dutch diversified wellbeing Company has chosen Tech Mahindra in area of Structural analysis of its integrated landscape, facilitating risk analysis manageability and maintainability of its ICT backbone.

Won a deal from a leading Indian information service provider company in the area of providing Inbound Voice Services, Data as a Service, and Project Consultancy.

Won a SAP Maintenance and Support deal from a leading Brazilian Company in Chemicals & Agro business industry

Selected by a leading Global telecommunications Company for its M2M Machine to Machine) deployment and System Integration support

Engaged by a leading UK fashion retailer for its software testing services

Business Highlights:
Announced opening of second near shore delivery center in Antwerp, Belgium. The new facility has a capacity of 120 work stations and would bring the company closer to some of its key customers in the Benelux region

Tech Mahindra and Informatica announced Global Alliance to bring value to customers through its new data management services. This alliance will offer Platform-Based Solutions for the Informatica’s Intelligent Data Platform

Announced a strategic global services alliance agreement with HPS, the market-leading provider of mission-critical solutions to the cards and payments industry. The alliance will enable Tech Mahindra’s financial institutions and payment processing customers of all sizes to improve their cards and payments businesses by replacing legacy hardware and software with a single, flexible and cost processing effective platform

Launched the next generation Internet of Things (IoT) Lab in Noida. The well-equipped lab will be used to showcase Tech Mahindra's competency in Internet of Things (IoT) and machine-to-machine (M2M) capabilities