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Tech Mahindra Q2 PAT Up 64 Per Cent YoY at USD 52.8 million - Leading company strengthens focus across key Middle East economies like UAE, Saudi Arabia and Qatar
Tech Mahindra Q2 PAT Up 64 Per Cent YoY at USD 52.8 million

 

PRZOOM - /newswire/ - Dubai, UAE, United Arab Emirates, 2011/11/18 - Leading company strengthens focus across key Middle East economies like UAE, Saudi Arabia and Qatar.

   
 
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Tech Mahindra, a global systems integrator and business transformation consulting organization focused on the communications industry, has announced its consolidated financial results for its second quarter ending September 30, 2011. The report shows that the company’s revenues for Q2 FY 2011-2012 reached USD 296.2 million, signifying a 2.2 per cent Quarter-on-Quarter (QoQ) growth. The leading company’s Profit After Tax (PAT) reached USD 52.8 million, driving in a 64 per cent YoY increase.

According to Tech Mahindra senior executives, amidst the turn of events in the region, telecommunication companies made a shift in their IT spending behaviours and focused more on turnkey outsourcing of applications in the BSS / OSS space. The increasing trend towards applications outsourcing, system integration and managed services have become instrumental in the company’s increased revenues for Q2 FY 2011-2012. In addition to these trends, the advent of BPO and Security are the new areas of growth in the region. As a result of the company’s vibrant presence across the region, Tech Mahindra has revealed that they are now setting their sights on strategic focus markets like Qatar, UAE and Saudi Arabia for the upcoming quarter.

“Our performance for the second quarter of the current fiscal year reflects the strong relationships that we have maintained with our operators across the Middle East region. The growth we have keyed in has largely been driven by controlling costs and increasing revenues,” said Krishna Gopal, Vice President Global Alliance & Sales for Middle East, Africa and SAARC, Tech Mahindra. “We are looking to address these issues by enabling businesses and operators to concentrate on core business and handle essential functions like IT and networks. Till date, we have successfully handled projects in the IT segment, covering areas like OSS, BSS, ERP, EAI and more. Over the next few months, we will be offering a broader range of services to operators covering VAS, BPO, e-Security, Infrastructure Management and Network Services to customers and prospects in the region.”

One of the key wins reported is the partnership between Tech Mahindra and Menatelecom, a leading telecommunications operator in the Middle East, for the implementation of the telco’s Managed Services operations. The agreement will see Tech Mahindra working closely with Huawei Technologies in managing Menatelecom’s WiMAX 16e network thereby affirming the telco’s commitment to provide the most powerful internet packages in the region. Tech Mahindra’s active client count currently stands at 128.

Vineet Nayyar, Vice Chairman, MD and CEO of Tech Mahindra said,“We have seen yet another quarter of steady growth. Our investment in capabilities has enabled us to achieve this inspite of some headwinds. We remain anchored to building and enhancing our service offerings to meet the needs of the changing market place.”

Tech Mahindra has recently inaugurated its latest development centre in Bonn, Germany. The new R&D facility, which is located in Sirius Business Park, boasts of state-of-the-art infrastructure designed to serve clients in Germany and the rest of Central Europe. The company has also opened a Mobile Innovation Lab in Bellevue, Washington as part of its initiative to help next generation mobile devices to become more compliant with the stringent standards set by North American operators. Also, the company has partnered with Redknee, a leading provider of business-critical billing and charging software and solutions for communications service providers, for the delivery of software and services to the communications service providers market.

Tech Mahindra added a total of 807 new personnel during the quarter, and posted a total head count of 43,657, mainly composed of 26,665 software professionals, 15,875 BPO employees and a support staff of 1,117.

 
 
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Agency / Source: CommuniGate Middle East

 
 

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Tech Mahindra Q2 PAT Up 64 Per Cent YoY at USD 52.8 million

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