Page 58 - SAMENA Trends - Oct-Nov 2023

REGIONAL & MEMBERS UPDATES SAMENA TRENDS

Tech Mahindra Q2’24 Revenue Rs 12,864 Crores

Tech Mahindra Ltd., a specialist in digital transformation, consulting
and business re-engineering services announced the audited
consolidated financial results for its quarter ended September
30th, 2023.
Financial highlights for the quarter (USD)
• Revenue at ₹ 12,864 crores; down 2.2% QoQ, down 2.0% YoY
• EBITDA at ₹ 1,072 crores; down 19.9% QoQ, down 46.0% YoY
• Consolidated PAT at ₹ 494 crores; down 28.7% QoQ, down 61.6%
YoY
• Earnings per share (EPS) at ₹ 5.6
• The Board approved interim dividend of Rs. 12 per share
Other Highlights
• Total headcount at 150,604 up 2,307 QoQ
• Cash and Cash Equivalent at INR 6,515 cr as of September 30,
2023
CP Gurnani, Managing Director & Chief Executive Officer, Tech
Mahindra, said, “The year is being characterized by a challenging
demand environment and prolonged macro uncertainties calling
for a very tactical approach. We have doubled down our strategy
of working closely with clients, helping them to streamline and
modernize operations as they reprioritize their resources.”

Tech Mahindra Launches Generative AI Powered Vision amplifAIer, a Smart
Data Scientist for Business Analysts

Tech Mahindra, a leading provider of digital transformation, Vision amplifAIer will bring complex technology elements together
consulting, and business re-engineering services and solutions, in a deskilling manner. It will bring consistency and re-usability
announced the launch of ‘Vision amplifAIer’ solution under TechM across the spectrum, empowering enterprises to scale faster and
amplifAI0->∞ suit of AI offerings and solutions. The solution will achieving better business outcomes. At Tech Mahindra, we always
amplify the computer vision related use cases for enterprises. It emphasize scaling AI in a responsible manner and democratizing
will provide end-to-end life cycle management of computer vision it. Vision amplfAIer is a significant addition to our AI suite of
(CV) projects, with emphasis on de-skilling the whole process. In solutions for our customers to achieve the same purpose.” The
any computer vision use case, significant time is spent on the solution combines the power of generative AI models and features
initial step, namely, data pre-processing, use case understanding, like object detection, moderation, extraction, and monitoring
test data preparation, model development and training. Tech aspects to allow enterprises to build domain specific use cases.
Mahindra’s Vision amplifAIer will reduce turnaround time required These core capabilities are supported by an easy-to-use workbench
for each step of the workflow, by allowing techno-functional for the business users to manage technology lifecycle of the model
workforce to develop CV use cases without having data science training to deployment. With Tech Mahindra’s distinctive
skills. It will help enterprises to scale AI by streamlining and investments in the AI space, comprehensive understanding of
accelerating the process of building use cases. The solution will customer needs, and expertise in fostering digital transformation
provide pre-built models and generative AI-led capability to create within the enterprise, Vision amplifAIer will drive unprecedented
synthetic data, reuse existing models to be repurposed for new use efficiency for enterprises across industries. The launch of
case with power of transfer learning. Hasit Trivedi, CTO – Digital generative AI-powered Vision amplifAIer is in line with Tech
Services and Global Head - AI, Tech Mahindra says, “Computer Mahindra’s continuous endeavor to transform enterprises with
vision allows businesses to reimagine their existing way of working advanced AI-led offerings and solutions, along with its recent
and solving problems. However, scaling is a key challenge in this addition of Ops amplifAIer, Email amplifAIer, Enterprise Knowledge
space, due to the cost, skill and time needed to build the use cases. Search offering, Evangelize Pair Programming, and Generative AI
Manageability and standardization are other important elements Studio.
to stay responsible in overall adoption. Our Generative AI-powered

58 OCTOBER-NOVEMBER 2023