Page 72 - SAMENA Trends - July-August 2022

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

digital methodologies. We look forward to transformation outcomes. Tech Mahindra’s It provides near real-time insights into how
our partnership with Soroco to accelerate Business Process Services has adopted work gets done on the ground and helps
our customers’ digital transformation an integrated automation practice that enterprises in their transformation journey.
processes. Our combined offering will offers an advanced blend of intelligent Through this partnership, we aim to help
further help to reduce overall operations automation and automation thinking organizations globally to be able to assess
costs, improve customer experience, with varied services such as automation how work happens on the ground and make
drive better compliance, and improve consulting, opportunity assessment, tool a profound impact on how people truly
working capital. Tech Mahindra’s Center selection, cost-benefit analysis, and RPA experience work.” Tech Mahindra believes
of Excellence (CoE) will help this strategic (Robotic Process Automation) roadmaps, in DigitALL philosophy for comprehensive
partnership to jointly deliver an integrated among others to the customers. Samson Business Transformation. As part of
automation practice that offers an David, CEO, Soroco, said, “We are pleased NXT.NOW™ framework, which aims to
advanced blend of Intelligent Automation to partner with Tech Mahindra, one of the enhance ‘Human Centric Experience’,
and Automation Thinking.” With the leaders in digital transformation. At Soroco, Tech Mahindra focuses on investing in
strategic partnership customers will be able we are building the world’s first work graph emerging technologies and solutions that
to leverage AI-based Process Discovery platform, a database of shared digital enable digital transformation and meet the
and Mining Technology to accelerate their experiences emanating from our daily work. evolving needs of the customer

Tech Mahindra Q1’23 Revenues Up 24.6% YoY

Tech Mahindra Ltd., a specialist in digital deliver differentiated offerings. Our winning “Delivery transformation, cost optimization
transformation, consulting and business strategy rests on the pillars – ‘Purpose, and cash conversion will be key focus areas,
re-engineering services announced the People and Performance’ which is aiding as we continue to offset the strong supply
audited consolidated financial results for us to responsibly capitalize on the strong side headwinds in the market. We aim to
its quarter ended June 30th, 2022. demand environment in the market." expand our profitability through operational
Financial highlights for the quarter (USD) Rohit Anand, Chief Financial Officer, Tech excellence and improved operating metrics
• Revenue at USD 1,632 mn; up 1.5% QoQ Mahindra, said, over the course of FY’23..”
and up 18.0% YoY
• Revenue growth 3.5% QoQ in constant
currency terms
• EBITDA at USD 239 mn; down 13.5%
QoQ, down 6.2% YoY
• EBITDA margin at 14.8%
• Profit after tax (PAT) at USD 143 mn;
down 28.0% QoQ and down 22.0% YoY
• Free cash flow at $71.6 mn, conversion
to PAT at 50.2%
Financial highlights for the quarter (‐)
• Revenue at ‐ 12,708 crores; up 4.9% QoQ
and up 24.6% YoY
• EBITDA at ‐ 1,880 crores; down 10.0%
QoQ, up 0.2% YoY
• Consolidated PAT at ‐ 1,132crores;
down 24.8% QoQ and down 16.4% YoY
Other Highlights
• Total headcount at 158,035 up 6,862
QoQ
• Cash and Cash Equivalent at USD 1,114
mn as of June 30, 2022
CP Gurnani, Managing Director & Chief
Executive Officer, Tech Mahindra, said,
"We are starting this fiscal with a renewed
commitment towards delivering consistent
organic growth. We remain resilient and
watchful given the dynamic global macro-
economic environment and will continue to
invest in new and emerging technologies to

72 JULY-AUGUST 2022