Subscribe / Unsubscribe Enewsletters | Login | Register

Pencil Banner

Revenue increases for Tech Mahindra’s RoW region

Anuradha Shukla | May 19, 2014
Revenue grew 21% YoY to US$711 million in FY2014.

Revenue has increased for the Singapore-headquartered rest of the world (RoW) region of Tech Mahindra, which includes Asia-Pacific, India, Middle-East, and Africa.

Revenue grew 21% year on year to US$711 million in financial year (FY) 2014 from US$587 million in financial year 2013, according to the financial results for the company's fourth-quarter (Q4 2014) and financial year (FY2014) ended 31 March 2014.

Global revenue increased 17.7% to the equivalent of US$3,098.0 million in FY2014 from US$2,632.7 million in FY2013.

Profit after tax increased 38.6% to US$498.0 million from US$359.3 million over the comparative periods.

"Our result this year is a reflection of our commitment towards growth and our passion to help our customers deal with the needs of a dramatically changing world, fuelled by hyper connectivity, and decisions at the speed of thought," said C P Gurnani, managing director & CEO, Tech Mahindra said. "I want the world to know that TechM is well tuned to these aspects of modern business and we look at this a differentiator for growth."

Impressive wins

In Q4 2014, Tech Mahindra was chosen by a Singapore public sector agency to implement a cloud-based volunteer management system for development of sports.

The company teamed with a state-owned automobile major in China to develop electronic body control modules for their-next generation vehicles.

Tech Mahindra also partnered with a mobile service provider in New Zealand, a global Australian resources company and a retail customer in Kuwait.

ASEAN, North Asia and Middle East were the key growth regions for RoW region.

"Our growth was also driven by demand for platform solutions in the Banking, Financial Services and Insurance (BFSI) sector, especially in the ANZ regions. Moving forward, the focus will be on non-linear growth engines in Australia, Japan, China, Korea and Africa," said Rohit Gandhi, head (Enterprise) - Asia Pac, India, Middle East & Africa, Tech Mahindra.

 

Sign up for CIO Asia eNewsletters.