Tech Mahindra's Q1 profit soars, misses estimates
Tech Mahindra's profit for April-June grew 34% from last year to ₹1,141 crore—solid numbers, though just shy of what analysts expected.
Revenue edged up 2.7% to ₹13,351 crore but missed projections.
On the bright side, new deals worth $809 million rolled in (up 44%), giving a healthy boost to their contract pipeline.
Tech Mahindra shows signs of bouncing back
Even with mixed results, Tech Mahindra is showing signs of bouncing back—especially with those big new deals.
For anyone interested in India's tech scene or looking at job trends, it's worth noting the company did trim its workforce by 622 people this quarter.
Europe was a growth driver
Europe was a growth driver (up nearly 12%), helping balance out a slowdown in the Americas.
CEO Mohit Joshi credits "steady execution and broad momentum," while CFO Rohit Anand points to seven straight quarters of improving margins thanks to their Project Fortius initiative.