The company also posted operating profits (EBIDTA) worth over $60 million, which reflects an increase of 26 per cent QoQ.
“For the Middle East and North African (MENA) region alone, TechM witnessed a healthy growth surge, which is attributed to the company’s recent efforts to expand its solution footprint across six key pillars, which includes applications management, network services, security, Value Added Services (VAS), Infrastructure Management Services (IMS) and Business Process Outsourcing (BPO). Amidst recent events in the Middle East, the IT spending behavior of telecommunication companies has veered heavily onto the turnkey outsourcing of applications in the BSS/OSS space. According to TechM, much of the work in today’s regional market place revolves around IT Applications, Applications Outsourcing, System Integration and Managed Services, which also played a key role in increasing its revenue for the first quarter. The company also stated that analytics, cloud and security is slowly picking up its pace in the market,” the Company in a statement said.
“The growth that we have achieved for the first quarter of the current fiscal year demonstrates our unique specialization across the telecommunications market,” Girish Bhat, Vice President, MEA Sales & Operations, Tech Mahindra, said.
“The growth was mainly driven in by factors like controlling costs and the strong attention placed by operators towards increasing their revenues. TechM has helped address these issues by enabling businesses and operators to focus on core business and handle key functions like IT and networks. Over the years, we have managed to maintain strong relationships with leading operators in the Middle East region and with the takeover of Mahindra Satyam; we will have the strategic advantage of offering solutions that give our customers a full 360 degree view of their businesses.”
“Our focus on operational efficiencies has led to margin improvement, we continue to focus on expansion of our service offerings and increasing business momentum through customer centricity and increased market coverage,” Vineet Nayyar, Vice Chairman, Managing Director and Chief Executive Officer, Tech Mahindra, said.