Tech Mahindra Ltd. announced the audited consolidated financial results for its fourth quarter and year ended March 31, 2020.
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CP Gurnani, Managing Director & Chief Executive Officer, Tech Mahindra, said, "COVID-19 has brought an unprecedented change in business model for the IT industry. Ensuring wellness of employees and contribution to society while maintaining business continuity under all circumstances continues to be our priority. While the demand traction seen through the first three quarters of Fiscal 19-20 has reversed in Q4, we expect that the focus on Digital Transformation, Remote Working, and Network Modernization will recover in the medium term. The company has shown a strong growth for Fiscal 20 and we remain committed to deliver sustainable solutions to our customers enabling them to adopt to New Normal."
Manoj Bhat, Chief Financial Officer, Tech Mahindra, said, "Q4 has been a quarter where some of our metrics were impacted by the environmental challenges. Efficient operations, cost optimization and delivery automation will be the key focus areas going into the next year. Our strong balance-sheet combined with a focus on cash conservation will help us tide over the volatility in near term, as we look to emerge stronger and leaner to capture opportunities ahead."
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