TATA TECH REBOUNDS, EYES ABOUT $500 MN REVENUE IN Q3

NEW DELHI: Tata Technologies, a global engineering and product development digital services firm, expects to clock close to half a billion dollars in revenue this fiscal, riding on accelerated growth from electric mobility across the globe and offshoring of projects by its customers in the aftermath of Covid, according to a top company official.

The company, which had witnessed a “precipitous drop” in revenue at the beginning of the pandemic, had clocked a revenue of $119.3 million in the second quarter of the ongoing fiscal as compared to $80.1 million in the same period of FY21.

“We’ve seen sequential quarter on quarter growth now for the last six quarters and we expect that to continue. We had a precipitous drop in revenue at the beginning of Covid. We’ve seen all of that come back. This fiscal for the first time in our history, we’ll get close to half a billion dollars (revenue),” Tata Technologies CEO and MD Warren Harris told PTI.

Terming the second quarter revenue as “the largest revenue that we’ve ever had in our history”, he said, “So to go from that precipitous drop at the beginning of Covid, up to a point whereby we are bigger now than we’ve ever been is a testament to our portfolio and value proposition, the relationships with customers, but also the excitement that surrounds our industry.” On the company’s revenue growth, he said, “I think it’s appropriate to say that the move to electrification has provided the catalyst for the breakout growth that we’ve enjoyed in the last 12 months.”