Tech Mahindra, India’s fifth largest software exporter today announced consolidated financial results for its first quarter ended June 30, 2011.
Financial highlights for the Quarter (INR)
Revenue at INR 1292.5 crores; up 14% YoY and 2.5% QoQ
Operating Profit (EBIDTA) was INR 241.7 crores; up 13.7 % YoY
PAT excluding share of associate company’s profit was Rs 181.2 crores; up 25% YoY
PAT was INR 276.5 crores; up 91.6% YoY and 199.9% QoQ;
Earnings per Share (EPS) was Rs 21.89 for the quarter ended June 30, 2011
Financial highlights for the Quarter (USD)
Revenue at USD 289.8mn; up 15.4% YoY and 4.1% QoQ
Revenue on constant currency basis was at USD 284.1mn, up 2% QoQ
Operating Profit (EBIDTA) was USD 54.1mn; up 16.6% YoY
PAT excluding share of associate company’s profit was USD 40.5mn; up 28.4% YoY
PAT was USD 61.7mn; up 96.3% YoY and 203.6% QoQ
Total headcount at 42,850. Software Professional headcount stood at 27,920, BPO at 13,804 and Support staff at 1,126
Added 4,517 personnel during the quarter, of which 2,793 were in BPO
Debt was Rs 1282.2 crores as of June 30, 2011
Cash and Cash equivalent stood at Rs 194.4 crores on balance sheet as of June 30, 2011
Active client count at 128
Tech Mahindra has inaugurated its Innovation Center for Mobility Solutions in Toronto. The Toronto Innovation Center will initially provide device certification services to Canadian wireless operators and further expand its services to provide enterprise mobility solutions on current and next generation mobile devices for the benefit of North American customers in general and Canadian carriers specifically.
Tech Mahindra has declared Nigeria as the headquarters for its BPO operations in Africa ; and commenced operations in Gabon.
Selected by Microsoft to setup an authorized Encoder Conformance Testing Lab (ECT Lab) for video encoders used in deployment of IPTV solutions on Microsoft Media room based platforms.
Anand Mahindra, Chairman, Tech Mahindra said, “We continue to build our business portfolio at a measured pace, despite low discretionary spend in the telecom vertical. This has been enabled by our diversification into new geographies and customers”
Vineet Nayyar, Vice Chairman, MD and CEO of Tech Mahindra said, “We have aligned ourselves with changing customer priorities and needs, which has helped us navigate in these volatile times. Our continued focus on core competencies, has enabled us to show sustained growth across our key clients and geographies. The changing macro economic conditions could pose new challenges which we are closely monitoring”
Key wins
Tech Mahindra engaged with one of the leading telecom operator in Europe for developing Integrated Network Capacity Management (ICM) solution. This solution enabled to enhance, automate and consolidate various networks of the operator and bring it under one strategic system thereby resulting in improved operational efficiencies.
Selected by a leading telecom operator in Europe as the preferred supplier for its data migration program which will help transform its IT estate, and reduce total cost of ownership.
Tech Mahindra has been chosen by one of the leading Indian telecom operators to provide customer support to its subscribers. With its proven methodologies, Tech Mahindra will enable the operator to enhanced customer experience and realize operational efficiencies.
Selected by a leading Telecom Equipment Manufacturer (TEM) in Europe for a performing test and validation activity, for its provisioning platform.
Awards and Recognitions
Tech Mahindra has been ranked as No.1 Telecom Software Service Provider by Voice & Data, India’s leading communications magazine. According to the latest V&D100 Annual Survey conducted by the magazine, Tech Mahindra leads the Rs. 23,533 crore Indian telecom software services market in 2010-11 with 20.1 % market share.
CanvasM has won the CMAI 5th National Telecom Award for ‘Excellence in Innovation with Rural Telecom Focus’
Tech Mahindra has been recognised with 2011 Microsoft Communications Sector Partner of the Year Award. It was honored amongst a global field of top Microsoft partners for demonstrating excellence in innovation and implementation of customer solutions based on Microsoft technology
Financial highlights for the Quarter (INR)
Revenue at INR 1292.5 crores; up 14% YoY and 2.5% QoQ
Operating Profit (EBIDTA) was INR 241.7 crores; up 13.7 % YoY
PAT excluding share of associate company’s profit was Rs 181.2 crores; up 25% YoY
PAT was INR 276.5 crores; up 91.6% YoY and 199.9% QoQ;
Earnings per Share (EPS) was Rs 21.89 for the quarter ended June 30, 2011
Financial highlights for the Quarter (USD)
Revenue at USD 289.8mn; up 15.4% YoY and 4.1% QoQ
Revenue on constant currency basis was at USD 284.1mn, up 2% QoQ
Operating Profit (EBIDTA) was USD 54.1mn; up 16.6% YoY
PAT excluding share of associate company’s profit was USD 40.5mn; up 28.4% YoY
PAT was USD 61.7mn; up 96.3% YoY and 203.6% QoQ
Other Highlights for the quarter ended June 30, 2011
Total headcount at 42,850. Software Professional headcount stood at 27,920, BPO at 13,804 and Support staff at 1,126
Added 4,517 personnel during the quarter, of which 2,793 were in BPO
Debt was Rs 1282.2 crores as of June 30, 2011
Cash and Cash equivalent stood at Rs 194.4 crores on balance sheet as of June 30, 2011
Active client count at 128
Business Highlights for Quarter ended June 30, 2011
Tech Mahindra has inaugurated its Innovation Center for Mobility Solutions in Toronto. The Toronto Innovation Center will initially provide device certification services to Canadian wireless operators and further expand its services to provide enterprise mobility solutions on current and next generation mobile devices for the benefit of North American customers in general and Canadian carriers specifically.
Tech Mahindra has declared Nigeria as the headquarters for its BPO operations in Africa ; and commenced operations in Gabon.
Selected by Microsoft to setup an authorized Encoder Conformance Testing Lab (ECT Lab) for video encoders used in deployment of IPTV solutions on Microsoft Media room based platforms.
Anand Mahindra, Chairman, Tech Mahindra said, “We continue to build our business portfolio at a measured pace, despite low discretionary spend in the telecom vertical. This has been enabled by our diversification into new geographies and customers”
Vineet Nayyar, Vice Chairman, MD and CEO of Tech Mahindra said, “We have aligned ourselves with changing customer priorities and needs, which has helped us navigate in these volatile times. Our continued focus on core competencies, has enabled us to show sustained growth across our key clients and geographies. The changing macro economic conditions could pose new challenges which we are closely monitoring”
Tech Mahindra engaged with one of the leading telecom operator in Europe for developing Integrated Network Capacity Management (ICM) solution. This solution enabled to enhance, automate and consolidate various networks of the operator and bring it under one strategic system thereby resulting in improved operational efficiencies.
Selected by a leading telecom operator in Europe as the preferred supplier for its data migration program which will help transform its IT estate, and reduce total cost of ownership.
Tech Mahindra has been chosen by one of the leading Indian telecom operators to provide customer support to its subscribers. With its proven methodologies, Tech Mahindra will enable the operator to enhanced customer experience and realize operational efficiencies.
Selected by a leading Telecom Equipment Manufacturer (TEM) in Europe for a performing test and validation activity, for its provisioning platform.
Awards and Recognitions
Tech Mahindra has been ranked as No.1 Telecom Software Service Provider by Voice & Data, India’s leading communications magazine. According to the latest V&D100 Annual Survey conducted by the magazine, Tech Mahindra leads the Rs. 23,533 crore Indian telecom software services market in 2010-11 with 20.1 % market share.
CanvasM has won the CMAI 5th National Telecom Award for ‘Excellence in Innovation with Rural Telecom Focus’
Tech Mahindra has been recognised with 2011 Microsoft Communications Sector Partner of the Year Award. It was honored amongst a global field of top Microsoft partners for demonstrating excellence in innovation and implementation of customer solutions based on Microsoft technology
