The above graph represents the Tech Mahindra quarterly expenses by type, starting from fiscal Q1 2012 to the recently completed quarter. Tech Mahindra’s total expenses reached an all-time high of Rs 85,311 million in FY Q3 2020. A whopping 56.2% of that company spent on employee benefits, totalling Rs 47,905 million.
|Source||Tech Mahindra Limited|
|Note||Tech Mahindra financial year starts from April 1st|
Tech Mahindra’s employee benefits expenses increased nearly 6% YoY and 1.8% QoQ during the December quarter.
Tech Mahindra finance costs also increased an impressive 53.6% YoY during FY Q3 2020 to an all-time high of Rs 550 million. The cost of finances is the cost, interest, and other charges involved in the borrowing of money to build or purchase assets.
About Tech Mahindra Limited
Tech Mahindra Limited (NSE: TECHM) is an Indian multinational subsidiary of Mahindra Group, headquartered in Pune, Maharashtra. On 24 October 1986, Mahindra Group entered the telecom IT services space through Mahindra British Telecom (MBT) – a joint venture with British Telecom, UK.
In 2005, the company had began its first global development center outside India (in Melbourne).
In February 2006, MBT changed its name to Tech Mahindra Limited.
In April 2009, Tech Mahindra acquired 51% controlling stakes in Satyam Software Services for Rs 2,889 crore. Later, in June 2009, Satyam got rebranded as Mahindra Satyam. On March 21, 2012, Tech Mahindra announced its plan to merge with Mahindra Satyam. Later on June 24, 2013, Tech Mahindra and Mahindra Satyam merger completed to become India’s fifth largest software services company with a turnover of US$2.7 billion.
With $11.3 billion market cap, Tech Mahindra ranked #1543 in the list of Forbes Global 2000: World’s largest public companies.
As of March 2020, the Indian IT company has 964 global partners (including Fortune 500 companies), and over 130,839 employees across 90 countries.
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