Tech Mahindra’s profit rises 2.2% in the latest quarter
Tech Mahindra’s net profit went up 2.2% sequentially to Rs 1,368.5 crore in the quarter ended December. The dollar revenues rose 17% year-on-year at USD 1533 million. The Indian IT giant’s EBITDA stood at Rs 2,060 crore, up 9% year-on-year. CP Gurnani, Managing Director & Chief Executive Officer, Tech Mahindra, said, “Our people-first approach combined with sustained value creation this quarter reflects our commitment towards redefining possibilities and competencies in the new normal. We continue to strengthen our presence, deliver broad-based profitable growth and value for our customers, backed by future-ready talent and niche digital capabilities.” The company added 3,874 employees during the December quarter. Tech Mahindra won a multi-year strategic deal with an African power generation company, to lead business & operational transformation using drone technology & automation by leveraging multiple technologies like GIS. Tech Mahindra has 145,000+ professionals across 90 countries helping 1190 global customers, including Fortune 500 companies. The company is focused on leveraging next-generation technologies including 5G, Blockchain, Quantum Computing, Cybersecurity, Artificial Intelligence, and more, to enable end-to-end digital transformation for global customers. Milind Kulkarni, Chief Financial Officer, Tech Mahindra, said, “We continue to transform our operations and add new capabilities enabling us to grow faster while sustaining our profitability. Our focus on operational efficiencies and investments for the future will help us drive exponential value creation in the long run.”
The company added 3,874 employees during the December quarter.
The company added 3,874 employees during the December quarter.
["Tech Mahindra"]
["Tech Mahindra", "artificial intelligence", "programming_languages:R", "AI", "digital transformation", "Git", "RAG", "automation", "R", "emerging_tech:quantum computing"]
["AI", "artificial intelligence", "RAG", "R", "Git", "digital transformation", "automation", "programming_languages:R", "emerging_tech:quantum computing"]
Ebin works as a Copy Editor with Analytics India Magazine. He likes to read and has a tendency to get lost in YouTube rabbit holes or spotify podcasts in his free time.