Tech Mahindra Q3 Revenue up 4% Over Previous Qtr

by CXOtoday Staff    Jan 22, 2010

Tech Mahindra Limited, a leading solution provider in the telecom space, announced 4.0 percent growth in revenue and 2.3 percent growth in net profit for Q3 FY10 over Q2 FY10.

The company reported consolidated net profit of Rs. 172.8 crore for Q3 FY10 as against Rs. 169.0 crore in Q2 FY10. The company’s revenue was Rs. 1,187.3 crore for Q3 FY10 as against Rs. 1,141.8 crore in Q2 FY10.

During the quarter the company received Rs. 968.2 crore as contract restructuring fees on certain long term contracts. The company repaid Rs. 450 crore of debt using part of these funds. The company has a debt of Rs. 1,744.2 crore as of 31st December, 2009

The company derived 30.0 percent, 55.9 percent and 14.1 percent of its revenues from the US, Europe and rest of the world respectively.

Tech Mahindra consolidated head count increased from 26,515 in September 2009 to 30,404 in December 2009. In this quarter, Tech Mahindra restructured its organization to improve customer centricity and to address the changing needs of the marketplace. The 3-layered structure has a Sales & Marketing layer focused on addressing market opportunities, a Solutioning & Service Delivery layer to leverage the multiple capabilities created within the company, and Strategic Delivery Units to drive engineering excellence.

These numbers do not include Mahindra Satyam financials.