Tech Mahindra posts 15.4% increase

Tech Mahindra, an IT outsourcing company offering web development, Offshore development, application development, software development and is part of the Mahindra Group, has released the consolidated financial results for its first quarter ending June 30, 2011, revealing a 15.4 per cent Year-on-Year (YoY) growth in global revenue. The report shows that revenue for the first quarter reached $289.8 million, up by a 4.1 per cent Quarter-on-Quarter (QoQ) growth. The company has also revealed some new wins during the first quarter for the Middle East and African (MEA) regions. With multiple projects underway across the Middle East, Tech Mahindra is enjoying penetration levels in GCC countries exceeding 100 per cent. Operators are currently seised with the issue of controlling costs, increasing revenues and sweating assets.Tech Mahindra aims at addressing these issues by enabling businesses to focus on core business and handle key functions like IT and networks. Present trends also show an increased focus on market segmentation and customer loyalty.In the Middle East region, Tech Mahindra has strong relationships with all operators and the company plans to focus on expanding its footprint in Saudi Arabia and are investing in efforts to make that happen. From / Gulf Today