Key Points

The company's revenue from operations also slipped, falling 3.2 per cent QoQ and 1.9 per cent year-on-year (YoY) to Rs 1,244 crore in Q1 FY26, according to its stock exchange filing.

The decline was largely driven by a weak performance in both of its core segments -- services and technology solutions.

Revenue from the services segment dropped 5.9 per cent sequentially and 2.2 per cent YoY to Rs 963 crore, while the technology solutions segment also declined 3.2 per cent QoQ and 1.9 per cent YoY to Rs 280 crore.

On the operating front, EBITDA (earnings before interest, taxes, depreciation, and amortisation) stood at Rs 201 crore -- reflecting a 14.3 per cent drop from the previous quarter and a 13.4 per cent decline from the same period previous year.

The EBITDA margin also narrowed to 16.1 per cent, down from 18.2 per cent in the previous quarter.

Despite the weak quarter, CEO and MD Warren Harris remained positive about the outlook.

He said that client confidence improved as the quarter progressed, leading to six strategic deal wins.

He expressed optimism about a sequential recovery in the second quarter and a stronger performance in the second half of FY26.

"Our deal pipeline today is more robust than a year ago, and the early momentum we are seeing gives us greater visibility and conviction for the rest of the year," Harris added.

However, the company announced its earnings after market hours on Monday, shares closed at Rs 713.9, up by Rs 5.1 or 0.72 per cent on the National Stock Exchange (NSE).

- IANS