New Delhi, July 17 -- The June-quarter results of Tech Mahindra Ltd had some bright spots. First-quarter Ebit margin rose sequentially for the seventh straight quarter, improving by 56 basis points (bps) to 11.1%, surpassing consensus estimates.

Also, a seasonally slow quarter for the company's mobility solutions business, higher visa costs, and lower employee utilisation were offset by savings from TechM's Project Fortius, favourable offshore mix, and optimisation of general and administrative expenses.

Offshore mix refers to information technology (IT) service providers allocating software development work to teams located in different countries, mainly for the purpose of saving costs.

As part of Tech Mahindra's Project Fortius, the ...