Revenue from BPO business up 27% on year ago quarter
Indian IT services provider Tech Mahindra has reported revenue of INR11.83bn for the fourth quarter, an increase of 12.6% compared to INR10.51bn for the same period a year ago.
The company posted an operating income of INR2.79bn, compared to INR2.84bn for the same quarter last year.
For the quarter ended March 31, 2010, profit after tax was INR2.27bn, compared to INR2.3bn in the same period a year-ago. Diluted EPS decreased to INR17.41 from INR17.90.
Geographically, Europe accounted for 57% of the total revenue, North America for 30% of total revenue, while rest of the world accounted 13%. Revenue from emerging markets grew by 85% YoY while Americas and Europe region grew by 12% and 3%, respectively. Revenue from BPO business grew 27% year-over-year.
For FY10, the company’s revenue rose to INR46.25bn from INR44.65bn, while the operating profit was down to INR11.32bn from INR12.82bn in the same period last year. Profit after tax was INR7bn, compared to INR10.14bn.
Anand Mahindra, chairman of Tech Mahindra, said: “This quarter saw us consolidate our position in the arena of complete end to end outsourcing. Our robust performance this quarter is a measure of our ability to understand customer needs and tailor solutions specific to these needs.”