Tech Mahindra records flat revenue growth in FY25

BENGALURU: Tech Mahindra registered flat growth in constant currency during the March quarter and overall FY25. Its CEO, Mohit Joshi, said the revenue was impacted due to delays in closing a deal in the hi-tech space. “When we started out 2024-25, we said that it would be better than 2023-24. Last year, we exited Q4 at -7% year-on-year and we went from -7% to flat. We are seeing a softer economic situation and volatility in some of our large sectors, especially in manufacturing. And we haven’t really seen growth come back to the telecom space,” Joshi said at the earnings press conference. Its revenue was flat also because of its strategic decision to scale down non-core and loss-making businesses.