Tech Mahindra’s Q1 FY25 net profit rose 23% to ₹851.5 crore, compared with ₹692.5 crore in the year-earlier period. But revenue declined 1.2% to ₹13,006 crore compared with ₹13,159 crore.
The tech firm saw a 28% sequential rise in net profit and a 1% rise in revenue.
Mohit Joshi, CEO and MD, Tech Mahindra said, “It is encouraging to see positive momentum in most industry verticals, which has led to revenue growth and margin expansion in an otherwise seasonally weak quarter. We continue to focus on execution and are on track to achieve our stated goals for FY27,” he said.
“Q1 results are a positive start. As we mentioned our strategic priorities and our focus continues to be investing in the business for long-term sustainable performance,” said Rohit Anand, CFO, Tech Mahindra.
About employees, the firm reported a low attrition of 10.1% in the past ten months, down 270 basis points sequentially. Total utilisation, including trainees improved to 86.1% in Q1, the firm said.
Published - July 25, 2024 10:16 pm IST
