Tech Mahindra on Thursday recorded its fiscal first quarter profit at Rs 851.50 crore, up 23 per cent in comparison to Rs 692.50 crore posted during the corresponding quarter of FY24, missing estimates. It posted revenue from operations at Rs 13,005.50 crore, down 1.2 per cent as against Rs 13159.00 crore during the same period of previous fiscal year. The company EBITDA stood at Rs 1102.3 crore.
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Mohit Joshi, Chief Executive Officer and Managing Director, 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.”
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Rohit Anand, CFO, Tech Mahindra, said, “The Q1 results are a positive start both for the current turnaround year as well as for our medium-term strategy. As we mentioned in our strategic priorities, our focus continues to be on investing in the business for long-term sustainable performance.”
Tech Mahindra recorded net new deal wins at $534 million as against $359 million during the first quarter of FY24. Total number of active clients at the end of June quarter stood at 1,165.
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In terms of total employees, Tech Mahindra recorded a total headcount of 147,620, which increased by 2165 from the previous quarter and was down by 677 as compared to Q1 of FY24. Of these, 80,417 were software professionals, 58,177 were BPO professionals, and 9,026 were in the sales and support team. Tech Mahindra recorded IT attrition rate (LTM) for Q1FY25 at 10 per cent, and IT utilization rate at 86 per cent.
