Tech Mahindra on Monday reported a 10.2 per cent increase in consolidated net profit to ₹ 943.1 crore for the third quarter ended December 2017, from ₹856 crore last year.

The consolidated revenue stood at ₹7,776 crore in the quarter, up 2.9 per cent from ₹7,557.5 crore in the year-ago period. The earnings per share stood at ₹10.73 for the December quarter.

Meeting market demands

“Our focus on digital transformation and continuous re-skilling of our workforce to meet the future demands of our market space is showing encouraging results,” said Vineet Nayyar, Vice-Chairman, Tech Mahindra.

He said the results also demonstrated the company’s focus on execution, that is key in an “otherwise unpredictable macro business environment.”

In dollar terms, the company’s profit grew 16.5 per cent to $147 million while revenue was up 8.3 per cent to $1.2 billion over the year-ago period.

The company said it added 18 active clients compared with the trailing September quarter, taking the active client count to 903 at the end of December 2017.

The company has been focussing on improving productivity by limiting its headcount. Its total headcount declined by nearly 2,000 to 1,15,241 employees at the end of the quarter, from the previous sequential quarter. The headcount stood at 1,17,095 employees in the same period last year.

‘DAVID’ strategy

CP Gurnani, Chief Executive Officer and Managing Director of Tech Mahindra, said: “We have continued to clock steady growth in the quarter across revenue, profits and new business. Our commitment to ‘DAVID’ strategy (Digitisation, Automation, Verticalisation, Innovation, Disruption) has yielded marquee deals in the digital space.”

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