Page 16 - Tech Mahindra

Tech Mahindra bets on telecom strength to grow IoT, connected devices biz

Tech Mahindra's net profit stood at Rs 2,813 cr on revenues of Rs 29,141 cr in last financial year

Tech Mahindra to hire 1,200 more for Bhubaneswar centre

IT services company Tech Mahindra plans to increase headcount by 1200 more at its Bhubaneswar campus by December this year.Tech Mahindra has about 1100 employees at its Bhubaneswar facility now."The IT company has bagged contracts from Bharti Airtel and Amazon to start BPO services at the city campus. They have started hiring", said a senior government official. Tech Mahindra is expected to complete the process by end of this year, he added.Meanwhile, the IT firm has started work on its second development block within the city campus. It plans to set up its third development block shortly.In December 2014, the company had inaugurated a new block at its existing campus to house 615 more IT professionals taking the total headcount in the state to 1,111. The new block was built at a cost of Rs 55 crore.Earlier, Tech Mahindra had announced to scale up headcount at its Bhubaneswar centre to 5,000. This included professionals for IT and ITes (IT enabled services) jobs. The IT company has .

Tech Mahindra hits 43-month low; tanks 17% on weak Q4 results

The stock tanked nearly 17% to Rs 358, its lowest level since October 2013, on BSE in intra-day.

Tech Mahindra Q4 net dips 31% to Rs 588 cr; LCC restructuring hits margins

IT services major Tech Mahindra said fourth quarter profits declined by 31 per cent to Rs 588 crore as it saw project cancellations in its communication business amidst restructuring of Lightbridge Communications Corporation (LCC), a US firm it acquired in 2015. Margins, calculated on sales minus revenue, stood at 12 per cent, the lowest in two years and the weakest among the top five Indian IT services firms. Tech Mahindra saw revenues grow 8.9 per cent to Rs 7,495 crore in the January to March quarter. Market analysts maintained a Buy rating for Tech Mahindra despite the dip in profitability in fourth quarter. "EBITDA margin performance was way below expectation, 12.0 per cent versus our estimate of 15.5 per cent, led by LCC restructuring, wage hike and higher SG&A expenses. We maintain our positive view based on possible recovery in telecom, bottoming out signals in LCC, continued growth in enterprise business led by BFSI and Manufacturing and margin expansion with ...

Tech Mahindra Q4 net declines 33% to Rs 590 crore

Analysts on average had expected March-quarter consolidated profit at Rs 783 crore

Tech Mahindra to set up third campus in Odisha in 2018

IT company had plans to invest Rs 500 crore on its Odisha centre over the next five years

Tech Mahindra claims it has entered league of top 20 global services brands

Company registered an impressive growth of 21% in the previous financial year

Digitisation will shift IT contracts to pay-per-use model: Tech Mahindra

As more businesses use digital technologies like artificial intelligence, internet of things (IoT), IT services contracts will change from long-term to pay-as-you-use model, says Atul Kunwar, chief technology officer, Tech Mahindra. Customers of the these IT services providers are reallocating their budgets to focus on new technologies that can improve efficiency. "The traditional budgets are getting reorganised and reallocated. Some money is put into IoT or Cloud too. There is a shift that is happening. Contracts will definitely undergo changes as things go across. There are certain contracts which have particular obligations and timeline, but when customers are revisiting those contracts they are looking at new ways," said Kunwar. While total IT budgets of businesses were earmarked towards heavy-duty technology like enterprise resource planning before, a portion of that are now used to invest in emerging areas like IoT, cloud or artificial intelligence. "Contracts in the new ...

Tech Mahindra opens state-of-the-art lab at Bengaluru

It will demonstrate solutions, products built in association with leading software, hardware vendors

Tech Mahindra to buy US health care service provider for Rs 732 cr

Information technology services entity Tech Mahindra will acquire CJS Solutions Group, a US-based health care provider, for Rs 732 crore ($110 million). The Florida-based company, which does business as HCI Group, provides electronic health and medical record services, and allied software training and support.Tech Mahindra will make an upfront payment of $89.5 million to take an 84.7 per cent stake in the company, which reported annual revenue of $114 million as on end-September 2016. The remaining stake will be acquired over three years. This acquisition is in line with TechM's 'DAVID (digital, automation, verticalisation, innovation and disruption)' strategy. It will give the company access to prominent health care companies in America and Britain. The core leadership team of CJS will continue and the 500 fulltime employees will be absorbed by TechM. "Health care is one of the few sectors globally that is driving adoption of digital technologies. The acquisition will not only ...

Tech Mahindra to buy CJS Solutions Group for $110 million

Deal includes an upfront cash payment of $89.5 million to buy 84.7% stake in CJS

Tech Mahindra sees bigger business from Vodafone-Idea merger

The software firm derives over half of its revenue from servicing communication companies

TechM to get IT right for better profit margins

Will strive to do better on earnings, growth & let go of low-yield businesses or deals

Tech Mahindra to focus on bottomline as market turns more hazy

To focus on bottomline, TechM is also willing to sacrifice on revenue growth

Tech Mahindra Q3 net up 14% at Rs 856 cr

In dollar terms, net profit was up 11.4% to $126.3 mn, while revenue was up 10% to $1,116.1 mn

Tech Mahindra launches incubator for start-ups in UK

Over the next two years, InnovateMK aims to support more than 50 entrepreneurial ventures in the region

TechM sets up innovation lab to push digital play

Part of plan to raise digital share of revenue to half, from a third at present, within 5 years

Tech Mahindra bets big on Nordics

Tech Mahindra will be taking over employees from both companies on board

Tech Mahindra bags two contracts from Nordic region

Signs five-year deal with Finland's Stockmann and a cloud services deal with Norway's Nortura

Tech Mahindra gains post Q2 results

The stock rallied 7% to Rs 444 after the company reported dollar revenue growth of 5% on a constant currency basis, sequentially.