Tech Mahindra’s revenue up 3.5% in Q1
IT services firm Tech Mahindra’s revenue rose 3.5% year-over-year as measured in United States dollars and in constant currency in its fiscal first quarter ended June 30.
Tech Mahindra MD and CEO CP Gurnani said, “We remain resilient and watchful given the dynamic global macro-economic environment and will continue to invest in new and emerging technologies to deliver differentiated offerings.”
The company’s total headcount also rose by 6,862 from the previous quarter, resulting in about 150,000 Tech Mahindra employees.
However, the firm’s profit after tax fell 22.0% year over year as measured in US dollars.
As for shares, Tech Mahindra’s stocks closed down 1.11% today in India to 1,017.25 Indian rupees (US$12.72) as of July 25, 7.79% above their 52-week low.
The company had a market cap of 1.00 trillion Indian rupees (US$12.50 billion).
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