FY24 marks the second ever full year decline in headcount for Tech Mahindra, which was down by 6,945. The IT company had previously reported a full-year headcount drop in FY18.
Tech Mahindra is steadily adding fresh graduates and we are continuing on our path of absorbing 1500 plus fresh graduates every quarter, said CEO Mohit Joshi.
By FY27, Tech Mahindra has set a goal to expand EBIT margin to 15 percent and have higher topline growth as compared to peer average of top six-seven IT services players.
The company posted a consolidated net profit to ₹1,117.7 crore in the quarter that ended March 31, 2023, compared to a profit of ₹1,505.7 crore in the corresponding period of the previous year.