AI training for 50,000 employees.. 6000 jobs in current financial year - Tech Mahindra!
AI training for 50,000 employees.. 6000 jobs in current financial year - Tech Mahindra!
Tech Mahindra: Tech mahindra MD and CEO Mohit Joshi and CFO Rohit anand made several important announcements in Bengaluru on Thursday, april 25.IT services major Tech mahindra posted a 40.9% year-on-year decline in its net profit in the fourth quarter of this fiscal year 2023-24 due to weakness in the media and communications segment. And in the last 4th quarter, the company is estimated to have made a net profit of Rs.661 crore.However, bucking the trend in its wider industry, Pune-headquartered Tech mahindra has reportedly embarked on a drive to hire 6,000 new employees in the current financial year (FY25). "We continue on a path of recruiting more than 1,500 new graduates every quarter," said Mohit Joshi, Managing director and Chief Executive.
Tech mahindra will also plan to train more than 50,000 employees on artificial intelligence during the year, Joshi said in an earnings analyst conference call. It can be said that Tech mahindra has mapped out an ambitious path that includes structural growth, operational and organizational changes to help it surpass the average topline growth of its peers in FY2026-27.Revenue for the quarter ended march 31 registered a 6.2% year-on-year decline at Rs 12,871 crore. And for the full financial year there was a decline of 2.4% to Rs 51,996 crore. Net new deal wins for the quarter were $500 million. Net profit for the full fiscal fell 51.2% to Rs 4,965 crore."From a sector perspective, our communications business declined 12.4% year-on-year due to the macro trends we saw last year and some one-off revenue," Chief Financial Officer Rohit anand told the earnings press conference.
Tech mahindra has seen a boom in business in FY25. "We are now very confident that Q4 represents a low point in our year-over-year growth trajectory, which means we expect to start seeing improvement in our annual performance from Q1," Joshi said. The company's board has recommended a final dividend of Rs 28 per share, which would be Rs 40 per annum once approved. In Q4FY24, the number of employees decreased by 795 to 1,45,455. Utilization rate was 86%, while was unchanged at 10% in the quarter
Tech Mahindra: Tech mahindra MD and CEO Mohit Joshi and CFO Rohit anand made several important announcements in Bengaluru on Thursday, april 25.IT services major Tech mahindra posted a 40.9% year-on-year decline in its net profit in the fourth quarter of this fiscal year 2023-24 due to weakness in the media and communications segment. And in the last 4th quarter, the company is estimated to have made a net profit of Rs.661 crore.However, bucking the trend in its wider industry, Pune-headquartered Tech mahindra has reportedly embarked on a drive to hire 6,000 new employees in the current financial year (FY25). "We continue on a path of recruiting more than 1,500 new graduates every quarter," said Mohit Joshi, Managing director and Chief Executive.
Tech mahindra will also plan to train more than 50,000 employees on artificial intelligence during the year, Joshi said in an earnings analyst conference call. It can be said that Tech mahindra has mapped out an ambitious path that includes structural growth, operational and organizational changes to help it surpass the average topline growth of its peers in FY2026-27.Revenue for the quarter ended march 31 registered a 6.2% year-on-year decline at Rs 12,871 crore. And for the full financial year there was a decline of 2.4% to Rs 51,996 crore. Net new deal wins for the quarter were $500 million. Net profit for the full fiscal fell 51.2% to Rs 4,965 crore."From a sector perspective, our communications business declined 12.4% year-on-year due to the macro trends we saw last year and some one-off revenue," Chief Financial Officer Rohit anand told the earnings press conference.
Tech mahindra has seen a boom in business in FY25. "We are now very confident that Q4 represents a low point in our year-over-year growth trajectory, which means we expect to start seeing improvement in our annual performance from Q1," Joshi said. The company's board has recommended a final dividend of Rs 28 per share, which would be Rs 40 per annum once approved. In Q4FY24, the number of employees decreased by 795 to 1,45,455. Utilization rate was 86%, while was unchanged at 10% in the quarter