Tech Mahindra looks to grow in Asia-Pacific

INDIAN IT firm Tech Mahindra, which beat market expectations in its recently announced third-quarter (ended Dec 31, 2013) results, is looking towards the Asia-Pacific region to accelerate growth. Speaking to BizIT, Tech Mahindra's Rohit Gandhi said the company's run rate for the current fiscal year was US$3 billion and it hoped to increase it to US$5 billion by fiscal 2015.

Mr Gandhi, who is Tech Mahindra's senior VP for Asia-Pacific, India and West Asia and Africa region, added that the market had big expectations for the company, which was formed from the merger of a much smaller Tech Mahindra and Satyam, another Indian IT company which fell into a crisis after the arrest of its founder-chairman.

During the third quarter, Tech Mahindra's revenue was up 17.2 per cent year on year and 4.4 per cent quarter on quarter to US$791 million. The profit after tax was up 175.7 per cent year on year to US$163.1 million.