Tech Mahindra witnesses revenue decline in June quarter

Business Jul 17, 2025

Tech Mahindra just posted a 1% drop in revenue for Q1 of fiscal 2023, with things looking a bit tougher compared to last quarter too.
The main reason? Clients are spending less on extra tech services, so the company's earnings took a hit.

Tech Mahindra adjusts to market conditions

To handle this slowdown, Tech Mahindra made some adjustments—utilization rates fell to 85%, meaning fewer resources were actively used, and attrition ticked up to 12.6% as more employees left.
The company also trimmed its team by 622 people, bringing total headcount to just under 80,000.
All these moves are part of their effort to stay steady while clients tighten their budgets.