Tech Mahindra (TECHM:NSI) reported revenue edged down in its fiscal first quarter ended June 30 but still beat estimates. Gross margin improved, and profit after tax rose by 23.0%.

“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,” CEO Mohit Joshi said in a press release. “We continue to focus on execution and are on track to achieve our stated goals for FY27.”

Total revenue fell 1.2% to 130.06 billion rupees (US$1.56 billion) in the fiscal first quarter. The average analyst estimate called for revenue of 129.45 billion rupees at the Pune, India-based firm.

By geography, Americas revenue fell by 0.6% year over year in the first quarter as measured in US dollars. Americas is Tech Mahindra’s largest geography and represents 52.4% of total revenue.

Revenue from Europe fell 7.3% year over year in the first quarter, while rest-of-world revenue fell 2.1%. Europe represents 23.4% of total revenue, and rest of world represents 24.2%

The total contract value of net new deal wins rose to US$534 million in the first quarter from US$500 million in the fourth quarter. However, the number of active clients fell to 1,165 in the first quarter from 1,172 in the fourth.

Total headcount in the first quarter is up by 1.5% from the fourth quarter to 147,620.

Tech Mahindra – Q1 2025

Share Price

Shares in Tech Mahindra set a new 52-week high today, July 25, in India when they reached 1,547.55 rupees (US$18.48).