Tech Mahindra Ltd announced the audited consolidated financial results for its fourth quarter and year ended March 31, 2019
Financial highlights for the Year (USD):
- Revenue at USD 4,970.5 mn; up 4.2% YoY
- Revenue growth up 5.8% YoY, in constant currency terms
- Revenue from digital services grew 41% YoY
- EBITDA at USD 905.9 mn; up 24.3% YoY
- Consolidated PAT at USD 614.6 mn, up 4.5% YoY
- Free Cash flow for FY19 at USD 534.5 mn
C P Gurnani, Managing Director & Chief Executive Officer, Tech Mahindra said, “We had a satisfactory year, characterized by significant margin improvements, a growing digital portfolio and considerable increase in deal wins. While our Enterprise business has performed satisfactorily during the year, we are encouraged by the revival of the Communications business. Our continued investments into our partner ecosystem for building a unique portfolio of 5G offerings will enable us to address the Networks of the Future opportunity.”
Manoj Bhat, Chief Financial Officer, Tech Mahindra said, “It has been a year of overall operational performance improvement on various fronts, leading to a significant expansion in EBITDA margin year on year. We initiated our maiden share buyback program on the back of a healthy cash conversion during the year, with a view to returning enhanced value to our shareholders.”
Business Highlights oh Tech Mahindra
- Tech Mahindra and University of Nebraska at Omaha (UNO) collaborate to create a Future-Ready Workforce in the Midwestern U.S., armed with the latest digital capabilities and in-demand skills.
- Tech Mahindra will enter into a unique partnership with U.S. Based Orbic to co- design and co-create a 5G device portfolio including a Smartphone, Tablet, Hotspot and Home Router in India and the U.S., for the global markets.
- Tech Mahindra has joined the TBCASoft to promote the Cross-Carrier Blockchain Platform for telecom carriers.
- University of Sydney partners with Tech Mahindra’s research arm, Makers Lab to co-create Next Gen Technology Solutions to tackle issues set out by industry, community and government organizations.
- Tech Mahindra Launches “netOps.ai” its Network Automation and Managed Services Framework based on CI/CD (Continuous Integration / Continuous Deployment) principles to accelerate 5G Network adoption by automating all the key network life cycle stages.