Tech Mahindra Ltd
23 Mar 2024 12:00 AM
Tech Mahindra announces restructuring of subsidiaries,
Tech Mahindra announced that a Plan of Merger of Born Group, Inc., wholly-owned step down subsidiary of the Company with its parent company viz. Tech Mahindra (Americas) Inc., wholly owned material subsidiary of the Company, has been approved by the respective companies on 22 March 2024. The Intimation of the same was received by the Company at 09.22 AM (IST) on 23 March 2024.The merger is subject to regulatory approvals in the country of incorporation. The appointed date of the Plan of merger is 1 April 2024. Powered by Capital Market - Live News
Tech Mahindra Ltd
18 Mar 2024 12:00 AM
Tech Mahindra allots 1.91 lakh equity shares under ESOP,
Tech Mahindra has allotted 191,409 equity shares of Rs 5 each under ESOP on 18 March 2024. Powered by Capital Market - Live News
Tech Mahindra Ltd
20 Feb 2024 12:00 AM
Tech Mahindra to acquire 100% stake in Orchid Cybertech Services Inc.,
Tech Mahindra announced that the Company through its wholly owned subsidiary viz., vCustomer Philippines Inc. has today i.e. 20 February 2024 at 05:55 a.m. (IST), approved the acquisition of 100% equity shares in Orchid Cybertech Services, Inc, (OCSI) for a cash consideration of AUD 5 million. Orchid Cybertech Services Inc. (OCSI) provides Customer experience related services to TPG Telecom. It has about 2,950 full time employees. The turnover of OCSI for the FY ended on July 31, 2023 was US$37.3 Mn. Tech Mahindra has long standing relationship with TPG Telecom (TPG). This deal further strengthens the relationship with TPG and aids in expanding existing customer experience capabilities and business in the Philippines. Acquisition of OCSI will facilitate this transition and enable incremental revenue to be realized. As part of this transaction OCSI, including its assets and employees, will become part of Tech Mahindra and Tech Mahindra will provide customer support and other services to TPG. Powered by Capital Market - Live News
Tech Mahindra Ltd
24 Jan 2024 12:00 AM
Tech Mahindra consolidated net profit declines 60.64% in the December 2023 quarter,
Net profit of Tech Mahindra declined 60.64% to Rs 510.40 crore in the quarter ended December 2023 as against Rs 1296.60 crore during the previous quarter ended December 2022. Sales declined 4.61% to Rs 13101.30 crore in the quarter ended December 2023 as against Rs 13734.60 crore during the previous quarter ended December 2022. ParticularsQuarter Ended�Dec. 2023Dec. 2022% Var. Sales13101.3013734.60 -5 OPM %8.7515.54 - PBDT1122.202269.30 -51 PBT678.801771.20 -62 NP510.401296.60 -61 Powered by Capital Market - Live News
Tech Mahindra Ltd
24 Jan 2024 12:00 AM
Tech Mahindra standalone net profit declines 59.66% in the December 2023 quarter,
Net profit of Tech Mahindra declined 59.66% to Rs 485.90 crore in the quarter ended December 2023 as against Rs 1204.40 crore during the previous quarter ended December 2022. Sales declined 3.97% to Rs 10551.40 crore in the quarter ended December 2023 as against Rs 10987.60 crore during the previous quarter ended December 2022. ParticularsQuarter Ended�Dec. 2023Dec. 2022% Var. Sales10551.4010987.60 -4 OPM %5.2312.70 - PBDT741.401705.00 -57 PBT541.801509.80 -64 NP485.901204.40 -60 Powered by Capital Market - Live News
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