IT outsourcing firm Tech Mahindra on Wednesday reported a consolidated net profit of Rs 276 crore for the quarter ended December 31, 2011.

“Profit after tax for the quarter ended December 31, 2011 and 2010 are not comparable as the figures in respect of 2010 do not include share in profit of Satyam Computer Services Limited (SCSL) for the period,” Tech Mahindra said in a filing to the BSE.

The company had a net profit of Rs 257 crore during the October-December quarter 2010, the company said.

Income from operations rose to Rs 1,444.87 crore during the quarter under review, against Rs 1,211.14 crore in the same period last year.

The total headcount of the company at the end of December 31, 2011 stood at 42,746 out of which software professional headcount stood at 25,218, BPO at 16,419 and support staff at 1,109.

The debt stood at Rs 1,376 crore as of December 31, 2011 and cash and cash equivalent stood at Rs 321 crore on balance sheet during the same period.

“We have had a satisfactory quarter, with growth in both revenue and margins. This is a result of our investments in growth markets, and in emerging technologies. We continue to focus on delivering enhanced value to our customers in an uncertain economic environment,” Tech Mahindra Vice Chairman, MD and CEO Vineet Nayyar said.

At the end of December quarter, the company’s active clients stood at 130.

Shares of Tech Mahindra settled at Rs 650.75 on the BSE, up 1.28 per cent from the previous close.

Source:http://economictimes.indiatimes.com/news/news-by-company/earnings/earnings-news/tech-mahindra-posts-q3-profit-of-rs-276-cr-shares-up-1-28/articleshow/11807950.cms

Tech Mahindra, a leading Indian IT outsourcing company with global footprints, has started customer care services in seven African countries as a partner of telecom giant Bharti Airtel.

“We see Africa as a growing developing continent and opportunities really do exist in Africa,” Rahul Sabharwal, Tech Mahindra’s vice president for Africa, told IANS here.

“The continent has become of strategic importance to us because of the growth that we see and Tech Mahindra wants to be part of the continent’s development process,” he said.

Sabharwal added that the decision to expand operations in Africa was taken after the company had partnered leading telecom operators including MTN and Multilinks in Nigeria over a two-year period.

The countries in which Tech Mahindra will provide customer care services for Bharti Airtel, the telecom giant with operations in 16 African countries, includes the Republic of Congo, Democratic Republic of Congo, Gabon, Ghana, Malawi and Nigeria.

Since February, the company had been operating a contact centre and a back office for Airtel in Ghana.

“Tech Mahindra’s entry into the country is likely to put a lot of focus on Ghana and this would lead to generating more employment for the people,” Pushkar Gokhale, Tech Mahindra’s country head, told IANS.

“We started with 100 people when we opened, but after six months we have increased the number to 300,” he added.

Earlier this year, in a statement to mark the company’s two years of operations in Nigeria, Sujit Baksi, president for corporate affairs and business service group, said that Tech Mahindra has recruited over 1,000 local employees in Nigeria. “It is our strategy to nurture local talent for effectively executing our BPO operations,” he said.

He said the company had also put into operation a programme to reduce its expatriate headcount over a period of two years in Nigeria in order to develop the workforce locally to run the operations.

“With its telecom domain expertise and global experience over two decades, Tech Mahindra is committed to offering the best in the industry services to telecom operators leading to enhanced experience for the end consumers in Nigeria and the Africa continent as whole,” said Krishna Gopal, vice president, sales and global alliances.

Source:http://economictimes.indiatimes.com/tech/ites/tech-mahindra-partners-airtel-in-seven-african-countries/articleshow/9579546.cms