Latest News - India’s fifth largest IT services and solutions firm, Tech Mahindra, stated that the focus of the firm would be to improve profitability even at the cost of growth going ahead.
"It is not fair for the company to have margins in 12-15 per cent range when my competitors are reporting margins in the range of 20 per cent and above. We will strive to do better both on Ebitda (earnings before interest, tax, depreciation and amortisation) and growth, but my priority is going to be Ebitda now," said C P Gurnani, CEO & MD, Tech Mahindra.
He further added that as part of improving the margins, the company would let go of businesses or deals that did not have high yields. "We will definitely look at the yield management. Some of this will also mean abandoning my field engineering kind of work in LCC. I will reduce my business there. If you see de-growth, it is because I have decided on those particular areas," said Gurnani.
The company, which recently announced its third quarter numbers, reported topline growth of 12.7 per cent at (Read More)
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