New Delhi, July 16 -- Tech Mahindra Ltd kicked off the fiscal with lower-than-expected revenue as low business outside its largest geographies dragged down growth, prompting the management to give out mixed signals on the road ahead.

The Pune-based information technology (IT) outsourcer reported $1.56 billion in revenue for the April-June 2025 period, up 0.97% sequentially. Analysts expected better. A Bloomberg poll of 35 analysts expected the company to report $1.57 billion in revenue.

A key reason for the slowdown in revenue growth is the business outside its biggest markets, the Americas and Europe. The company's revenue from markets outside its biggest geographies, which makes up a fourth of its revenues, declined 4.4% sequentially ...