Tech Mahindra Q1 Results: Net profit rises 23% to 851.5 crore

Tech Mahindra's Q1 FY25 net profit increased by 23% to ?851.5 crore, up from ?692.5 crore in the same period last year. However, revenue dropped by 1.2% to ?13,006 crore, down from ?13,159 crore. The tech company also experienced a 28% sequential rise in net profit and a 1% rise in revenue.

Mohit Joshi, CEO and MD of Tech Mahindra, stated, “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.”

Rohit Anand, CFO of Tech Mahindra, added, “Q1 results are a positive start. Our strategic priorities and focus continue to be investing in the business for long-term sustainable performance.”

Regarding employees, the firm reported a low attrition rate of 10.1% over the past ten months, a sequential decline of 270 basis points. Total utilisation, including trainees, improved to 86.1% in Q1, according to the firm.