Tech Mahindra revenue grows 5% to $1.35 billion in Dec quarter

Tech Mahindra has reported revenue of $1,353 million (+5.1 percent), EBITDA of $219 million (+3.4 percent) and profit of $160.6 million (+1.3 percent) in its third quarter ended December 31, 2019.
Tech Mahindra Lab
Tech Mahindra’s digital revenues grew 10.6 percent, accounting for 41 percent of revenue of the Indian IT services company.

Tech Mahindra said the number of employees was reduced by 683 to 130,839 till the end of December.

“This is a quarter of strong growth across our communications and enterprise businesses. We continue to win deals and are well poised to capitalize on new market opportunities with technology shifts like 5G,” CP Gurnani, managing director and chief executive officer of Tech Mahindra, said.

Tech Mahindra recently announced the acquisition of 70 percent stake in Bangalore-based Cerium Systems. Cerium will boost the company’s Engineering Services practice in VLSI (Very Large Scale Integration) and Embedded Software.

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