Tech Mahindra posts 1.2 pc revenue drop in Q1, PAT up 23 pc at Rs 851 crore

Mumbai: Global IT services and consulting provider Tech Mahindra on Thursday reported a 1.2 per cent decrease in revenue for the April-June quarter (year-on-year) at Rs 13,005 crore.

On a quarterly basis, the revenue went up 1 per cent for the IT company.

The consolidated PAT was at Rs 851 crore, up 23 per cent (YoY), for Q1 FY25, while EBITDA reached Rs 1,564 crore, up 16.9 per cent YoY.

The company reported total headcount at 147,620, down 677 annually, for the June quarter.

Tech Mahindra's stock closed marginally up at Rs 1,540 apiece on Thursday.

"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," said Mohit Joshi, CEO and Managing Director, Tech Mahindra. According to Rohit Anand, CFO, Tech Mahindra, the Q1 results are a positive start, both for the current turnaround year as well as for their medium-term strategy.

"Our focus continues to be on investing in the business for long-term sustainable performance," he added.