Tech Mahindra unit to sell LLC Pak stake for $5.2 m
Tech Mahindra today said one of its subsidiaries will sell shares in LCC Pakistan to Talkpool AG, Switzerland, for $5.2 million (33.54 crore). One of the company's step down subsidiary viz LCC... Tech Mahindra Q4 net dips 31% to Rs 588 cr; LCC restructuring hits margins
IT services major Tech Mahindra said fourth quarter profits declined by 31 per cent to Rs 588 crore as it saw project cancellations in its communication business amidst restructuring of Lightbridge Communications Corporation (LCC), a US firm it acquired in 2015. Margins, calculated on sales minus revenue, stood at 12 per cent, the lowest in two years and the weakest among the top five Indian IT services firms. Tech Mahindra saw revenues grow 8.9 per cent to Rs 7,495 crore in the January to March quarter. Market analysts maintained a Buy rating for Tech Mahindra despite the dip in profitability in fourth quarter. "EBITDA margin performance was way below expectation, 12.0 per cent versus our estimate of 15.5 per cent, led by LCC restructuring, wage hike and higher SG&A expenses. We maintain our positive view based on possible recovery in telecom, bottoming out signals in LCC, continued growth in enterprise business led by BFSI and Manufacturing and margin expansion with... Flying high with free miles
Jet Airways offers 1 million miles free as competition with LCCs intensifies Tech Mahindra Launches Majority Owned Joint Venture In Saudi Arabia
1,600 associates of TechM are present in the country including those of its acquired company LCC and the joint venture, which has already set up a 10-seater delivery centre in Al Khobar Coimbatore-based LCC Air Carnival to start flying from July 18
First flight ticket fare Re 1, while for the first three months it will fly passengers for Rs 999 Air Arabia confirms interest in FlyEasy
Sharjah-based LCC says it is evaluating investment opportunity How India plans to weaken Dawood & his syndicate
How India plans to weaken Dawood & his syndicate Doval's Dawood dossier lists firms like Dubai's Oasis Oil and Lube LCC, Al-Noor Diamonds and Oasis Power LCC, allegedly owned by Dawood.