Tech Mahindra’s 3rd Quarter Profit Rises by 4%; Get More Details Here!

5 August 2022
3 mins read
Tech Mahindra’s 3rd Quarter Profit Rises by 4%; Get More Details Here!

On Tuesday, 1 February 2022, Tech Mahindra reported a rise in consolidated net profit by 4%, amounting to Rs. 1,368 crores during Q3 ended December 2021. The net profit was Rs. 1,309 crores during the same time back in 2020. Scroll through this blog to get an extensive overview of Tech Mahindra!

What About Tech Mahindra’s Revenue?

The revenue from Tech Mahindra operations amounts to Rs. 11,451 crores during quarter 3, marking a year-on-year growth of 19%. The company’s share was worth Rs. 1,514 apiece on National Stock Exchange─ increased 2.37%.

On a constant currency basis, the dollar revenue was $1533 million with a 17% rise year on year. Revenue growth on a sequential pattern was 4.7%. Additionally, this IT giant has generated Rs. 2,060 crores as EBITDA or earnings before interest, tax, depreciation, and amortisation─ establishing 9 percent year-on-year growth and 3 percent quarter-on-quarter growth.

This entity has an employee base of 1,45,067, with 3,874 individuals joining the workforce in the December quarter.

What Does Tech Mahindra Deal With?

Established in 1986, Tech Mahindra provides IT (Information Technology) and telecommunication services throughout the globe. It is a segment of Mahindra Group worth $12.5 billion─ partnered with BT (British Telecommunications plc). This entity primarily works with the telecommunication sector, with expertise in business transformation and global systems integration. It has included Mahindra Satyam (previously named Satyam Computer Services) in its IT portfolio.

The company has engaged in around eight transformation initiatives of recognised telecom operators combined with the execution of above sixteen Greenfield Operations worldwide. Its active consumer engagement in the telecom segment (mostly) exceeds 128.

Some of the crucial IT services it provides are revenue management, infrastructure management, application management, consulting, application management, and development and solution integration. It facilitates network, hardware development, testing, and software development to the major telecom equipment producers.

Parting Words

Despite the pandemic, Tech Mahindra has flourished with its sustained value formation and people-first outlook. Through niche digital capacities and future-ready talents, it will continue to satisfy its customers and expand the business.

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Frequently Asked Questions

1. Does Tech Mahindra provide BPO services?

Yes, Tech Mahindra offers outsourcing facilities in the avenues of accounting and finance, inventory management, contract management, order management and HR Outsourcing.

2. Who is the Chief Executive Officer of Tech Mahindra?

C P Gurnani is the Chief Executive Officer and Managing Director of Tech Mahindra. The entity’s Chairman is Anand G. Mahindra.

3. Who are the leading clients of Tech Mahindra?

Big companies such as Alcatel-Lucent, Motorola, AT & T, and (BT) British Telecom are Tech Mahindra’s major clients. BT generates 60 percent of the company’s revenue.

4. Did Tech Mahindra receive any awards?

Yes, Tech Mahindra has been recognised through the Business Week Award, IT People Awards, Frost & Sullivan, NASSCOM and AT&T Supplier Award.

Disclaimer: This blog is exclusively for educational purposes and does not provide any advice/tips on investment or recommend buying and selling any stock.