Tech Mahindra Ltd. (TECHM:NSI), the Pune, India-based global IT services giant, reported revenue rose 12.7% in constant currency to $1.67 million in its fiscal third quarter ended Dec. 31. However, management warned that growth is easing.

“We are witnessing moderation in growth given the tough macroeconomic environment,” said CP Gurnan, managing director and CEO. “We will continue to work with our customers to preempt their technological requirements and identify new demand drivers, especially for digital services.”

Growth was led by Tech Mahindra’s Americas segment, where revenue rose 10.6% year over year in the quarter. Revenue from Europe rose by 4.1%, while revenue from the rest of the world rose 10.1%.

Americas represents a lion’s share of Tech Mahindra’s revenue at 49.7%. The rest of the world represents 25.9% while Europe represents 24.4%.

The number of active clients in the quarter rose to 1,290 from 1,191 in the fourth quarter of last year. Total headcount at Tech Mahindra rose as well, up by 8.3% year over year to 157,068.

Share price and market cap

Shares in Tech Mahindra closed on Monday in India at INR 1,036.1 (US$ 12.71), which is 9.79% above their 52-week low, according to FT.com. The company had a market cap of INR 1.00 trillion (US$ 12.27 billion).