Tech Mahindra Reports 11.1 Percent Revenue Growth in Fiscal 2010-11


Tech Mahindra
reported revenue of Rs 1,261.5 crore in the fourth quarter of fiscal 2010-11,
registering 6.6 percent growth. Tech Mahindra’s net profit was

Rs 743.7 crore, up 6.2 percent
.

During the
fiscal 2010-11, the company’s revenue touched Rs 5,140.2 crore, growing at 11.1
percent. Net profit during the period was (excluding share of associate
company’s loss) was Rs 743.7 crore, up 6.2 percent as compared with the
previous financial year.

The company
added 4,809 personnel during the year taking total headcount to 38,333.
Software professional headcount stood at 26,282, BPO at 11,011 and support
staff at 1,040.

This has been a year of recovery from a severe
slowdown in the telecom vertical. Our growth this year is due to our unwavering
focus on customer centricity and our ability to challenge conventional logic to
better serve the needs of our customers,” said Anand Mahindra, chairman, Tech
Mahindra.

The company’s growth was fuelled by many significant
customer wins. It has s
ecured a five-year managed services deal from a mobile service provider
in Australia.
Tech Mahindra will be a strategic partner, responsible for consolidating and
managing the entire systems stack and associated services. It will also enable
the customer to achieve greater efficiency to improve its end customer
experience.

In partnership
with a leading telecom equipment manufacturer, Tech Mahindra was chosen by a
leading Middle East service provider to assist
in transformation of their legacy platform. This will help customer augment the
value of its core business system, reduce the time to market, ability to launch
new services and enhance the customer experience.

Tech Mahindra
through its VAS subsidiary Canvas M, has been chosen as a strategic partner by
a leading Telecom Equipment Manufacturer for roll out of 2G / 3G / LTE devices
for a leading US Telecom. Tech Mahindra will be engaged in testing at its
device testing lab in Noida. This pre certification will enable a faster roll
out for the US Operator’s network.

Tech Mahindra
partnered with one of the leading telecommunications service providers in Europe to setup its Enterprise Service Business. Tech
Mahindra worked with the service provider to facilitate Webservice based
integration between its multiple IT systems and further provide a single access
point to integrate new systems with minimal configurations. This will enable
the operator to manage its IT requirements like Communication, Security,
Performance and operation to launch new products and services with faster time
to market.   

By TelecomLead.com Team
[email protected]