Tech Mahindra reports 13% QoQ jump in PAT due to tight control over costs

IT services company Tech Mahindra reported a 13% sequential jump in its net profit despite modest growth, after it was able to keep costs almost static. Revenue in rupee terms rose 2.2% on quarter. Translated to dollars, it was up 2.5%. Year on year, revenue was up 2.9% in rupee terms and 8.3% in dollar […]

FITE says 11 cases against Tech Mahindra layoffs moved to courts

The Maharashtra unit of Forum for IT Employees said 13 disputes over forced resignations and  layoffs at IT organizations have been moved to the labor courts after failed mediation attempts by state labor authorities. 11 of the 13 cases were filed by employees of Tech Mahindra, and one each by those of Wipro and Vodafone, […]

Tech Mahindra opens robotics, AI and digital services center in Dublin

IT services provider Tech Mahindra opened a new facility in Dublin, Ireland to focus on emerging technologies such as Robotics and Automation, Business Analytics, Cloud Infrastructure and Digital Services. The new centre would employ around 150 engineers over the next three years and will help the company deliver technology services to clients in Ireland as […]

Tech Mahindra gets UK regulatory approval for Target Group acquisition

Tech Mahindra said UK’s Financial Conduct Authority approved its acquisition of Target Group, a financial services outsourcing and software provider. The transaction, announced on 27th May, will see the current management team remain in the business, ensuring continuity and acceleration of the Target groupś growth strategy. Target’s previous parent was Pollen Street Capital. Target Group […]

Tech Mahidra, Nissan, SAP team up for Canada’s Intelligent Electric Vehicle Charging System

Tech Mahindra Ltd said it will partner with Ontario-based local distribution company, Niagara-on-the-Lake Hydro, San Diego Gas & Electric (SDG&E), SAP Canada and Nissan Canada for developing an Intelligent Electric Vehicle Charging System (IEVCS). This project is sponsored by Canada’s Ministry of Energy and funded in part through the Ontario Smart Grid Fund initiative. Tech […]

Tech Mahindra acquires third-party IT consulting ops of chemical giant BASF

Tech Mahindra said it has signed an agreement with BASF Business Services Holding, a unit of German chemical giant BASF, to acquire its business with third party customers. “This includes the 100%-owned subsidiary BASF Business Services Consult GmbH, based in Hamburg. BASF Business Services Holding GmbH will in future focus on providing information services, supply chain […]