Tech Mahindra Q1 net profit rises 28% to Rs.1,465-Cr; deal wins cross $1 billion
Mumbai, July 16 (TNT): IT services major Tech Mahindra on Thursday reported a 28.4 per cent year-on-year increase in consolidated net profit at Rs.1,465 crore for the first quarter ended June 30, 2026, driven by revenue growth, margin expansion and strong deal wins.
The company’s revenue from operations rose 17.7 per cent year-on-year to Rs.15,712 crore, while earnings before interest and tax (EBIT) increased 53.3 per cent to Rs.2,264 crore during the quarter.
EBIT margin improved to 14.4 per cent, up about 330 basis points from a year ago.
Tech Mahindra reported new deal wins worth USD 1.078 billion, up 33.3 per cent year-on-year, marking the third consecutive quarter in which deal wins exceeded the USD 1-billion mark.
Addressing at a press conferernce, Chief Executive Officer and Managing Director Mohit Joshi said the company’s 6.1 per cent year-on-year revenue growth, coupled with sustained billion-dollar deal wins, reflected the resilience of its business and the growing relevance of its offerings.
He said the company also witnessed deeper client engagement, with the number of clients contributing more than USD 50 million annually increasing by seven during the quarter.
Chief Financial Officer Rohit Anand said the company delivered broad-based growth, higher margins and disciplined working capital management, while continuing to invest in differentiated capabilities, sovereign AI, platforms and talent to drive future growth.
During the quarter, Tech Mahindra’s total headcount stood at 146,760, down by 863 employees sequentially, while IT attrition over the last 12 months declined to 11.8 per cent. Cash and cash equivalents at the end of June stood at Rs.9,695 crore.
The company also announced the acquisition of Canada-based Avant Techno Solutions to strengthen its payments modernisation capabilities in the banking and financial services sector. It expanded partnerships with companies including Microsoft, Cisco, Perplexity, Telefónica Germany, UKG and Kitsa, besides launching new AI-led services and cybersecurity solutions during the quarter.
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