Tech Mahindra recorded decent results, with revenues, operating profit and net profit all clocking positive figures while increasing its client count by 14 to take total client count to 140
Tech Mahindra, India’s sixth largest software exporter, today announced its audited consolidated financial results for the third quarter ended 31 December 2012. Its revenue were at Rs1,791 crore, up 24% when compared to the corresponding quarter last year.
Its operating profit went up higher still, by 61% year-on-year, to Rs376 crore for the December 2012 quarter when compared to the same period last year.
Its net profit before share of associates stood at Rs242 crore, up 67% year-on-year, when compared to the December 2011 quarter.
Earnings per Share (basic EPS) was Rs21.6 for the quarter ended December 31st, 2012
The company’s debt stood at Rs1,318 crore when compared to Rs1,286 crore in the previous quarter (September 2012), while cash and cash equivalent stood at Rs482 crore which was higher by 34.26% when compared to the September 2012 quarter.
Vineet Nayyar, executive vice chairman of Tech Mahindra said, “Our growth trajectory continues. Tech Mahindra has been consistently performing with key wins and partnerships, supplemented by non organic initiatives. As we look forward we continue to see opportunities to help our customers in their strategic objectives, through innovative solutions”
CP Gurnani, managing director of Tech Mahindra said “We continue our journey to be a preferred partner in our customer’s transformation initiatives. Our recent wins demonstrate our capability in helping our clients to streamline their IT portfolio while achieving the benefits of optimization and linkage to outcomes.”
The company completed its acquisition of Comviva during the December 2012 quarter.
The total headcount stood at 49,059, with software professionals at 25,009, BPO at 22,565 and support staff at 1,485. The total headcount includes 1,546 employees of Comviva and 10,748 of HGS.
The company increased the total number of clients by 14, from 126 to 140 during the quarter.
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