INSUBCONTINENT EXCLUSIVE:
Tech Mahindra shares surged as much as 6.66 per cent to a fresh 52-week high of Rs 800 after its quarterly profit beat analysts' estimates
Tech Mahindra's net profit rose 13 per cent in the quarter ended December 31, 2018 as against Rs 1,064.3 crore in the previous quarter
revenue from operations advanced 3.63 per cent to Rs 8,943.7 crore in the December quarter, as against Rs 8,629.8 crore in the previous
Tech Mahindra said its margins rose by 50 basis points to 19.3 per cent sequentially.Commenting on the quarterly performance, CP Gurnani,
the company's managing director and chief executive officer, said, "This is a milestone quarter for Tech Mahindra with 5 billion dollars
annual revenue run rate in sight
The current quarter has been impressive on all fronts, delivering steady growth in enterprise and communications business along with margin
Our Run, Change and Grow strategy has helped us deliver a strong 10 per cent sequential growth in digital revenues
We are confident of continuing the growth momentum."Here are some of the key deal wins in the December quarter, as reported by the IT
company in its regulatory filing:Engaged by a telecom company in UK, as a partner in their transformation journey
Tech Mahindra will be responsible for driving improved customer experience through Next-gen transformation, automation and system
rationalization.Bagged a contract from one of the largest banks in the Australia New Zealand region for digital channel integration across
core banking processes and asset finance.Selected by a leading provider of jet engines and components for commercial and military aircraft
as its partner for digital transformation solutions and cloud migration services, leveraging Tech Mahindra's delivery excellence.Awarded a
multi-year, multi-million dollar, customer experience transformation deal, by one of the largest railroad companies in North America for
technical infrastructure management and enterprise security, using best-in-class artificial intelligence and automation-based
solution.Selected by a leading healthcare solution and device manager as long-term, strategic partner for engineering services leveraging
Tech Mahindra's expertise in Next-Gen technologies.
