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- India's Tata Technologies posts smaller-than-expected quarterly revenue drop on deal wins</p>
<p>July 14, 2025 at 6:30 AM</p>
<p>(Reuters) -India's Tata Technologies reported a smaller-than-expected revenue decline for the first quarter on Monday, as strong deal wins and execution of contracts helped it in a challenging macroeconomic environment.</p>
<p>The firm, which provides engineering and technology services to automobile, aero and heavy machinery makers, is optimistic about a sequential recovery in the second quarter and a stronger second half of fiscal year 2026, it said in a statement.</p>
<p>The company won six "strategic deals" during the quarter, including a partnership with Volvo Cars for product engineering and embedded software, and an engagement with an unnamed European luxury automaker for multi-domain technical services.</p>
<p>Its consolidated revenue dipped 1.9% year on year to 12.44 billion rupees ($144.69 million) in the April-June quarter. Analysts, on average, had expected a revenue of 12.04 billion rupees, as per data compiled by LSEG.</p>
<p>The engineering, research and development segment of India's IT industry, which relies heavily on outsourced work from U.S. and European clients, is seeing a broad slowdown as the global auto sector has been beset by concerns over U.S. tariffs, weak growth in China, sluggish EV adoption, and China's export curbs on rare earths.</p>
<p>"We achieved strong cash flow performance this quarter through consistent execution and disciplined working capital management, despite operating in a challenging environment," Tata Technologies CFO Savitha Balachandran said in a release.</p>
<p>Revenue from the firm's services segment, which is 77% of the overall pie, dropped 2.2%, while technology solutions' revenue dipped 1%.</p>
<p>Its profit rose 5% to 1.7 billion rupees, above analysts' expectations of 1.52 billion rupees, helped by a higher other income.</p>
<p>Peer Tata Elxsi missed quarterly earnings estimates last week, hurt by slowing research and development spend by customers across geographies.</p>
<p>($1 = 85.9790 Indian rupees)</p>
<p>(Reporting by Aleef Jahan in Bengaluru; Editing by Harikrishnan Nair and Mrigank Dhaniwala)</p>
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