Tech Mahindra Q1 Results: Net profit rises 28% YoY to Rs 1,465 crore, revenue up 18%

IT services major Tech Mahindra on Thursday reported a consolidated net profit of Rs 1,465 crore for the first quarter of FY27, rising 28% year-on-year (YoY) from Rs 1,140.6 crore net profit reported in the year-ago period.

Sequentially, the company’s net profit rose over 8% quarter-on-quarter (QoQ) from the Rs 1,353.8 crore reported in the March quarter of FY26. Revenue from operations meanwhile jumped 18% YoY to Rs 15,712 crore in Q1 FY27, from Rs 13,351.2 crore in Q1 FY26.

Tech Mahindra’s revenue rose 6.6% YoY in constant currency (CC) terms to $1,660 million, while EBIT rose over 53% YoY to Rs 15,712 crore during the quarter under review. New deal wins TCV rose over 33% YoY to $1,078 million.


The company reported a free cash flow of $167 million. Its headcount reduced by 863 persons during the three months ended June 30, 2026 to fall to 1.47 crore. LTM IT attrition rate stood at 11.8%, while cash and cash equivalent was reported at Rs 9,695 crore.

Among the segments, Tech Mahindra reported a 18% rise in revenue for its IT business to Rs 13,245 crore in Q1 FY27. Its BPS segment’s revenue, meanwhile, also grew over 18% YoY to Rs 2,466.9 crore during the first quarter.

What Tech Mahindra’s management said
Tech Mahindra CEO and Managing Director Mohit Joshi said that the company’s earnings growth coupled with three consecutive quarters of deal wins exceeding $1 billion dollars underscores the resilience of its business and the growing relevance of its offerings. “Equally encouraging is the continued deepening of client relationships, with our $50 million-plus client base up by seven and all verticals delivering growth YoY,” he added.

“We delivered a strong Q1 performance with broad-based growth, margin expansion, and disciplined working capital management, reflecting consistent execution and sustained business momentum. We remain committed to building a future-ready organization through continued investments in differentiated capabilities, domain-specific and sovereign AI, platforms, and talent—while maintaining a clear focus on growth and operational rigor,” said Tech Mahindra Chief Financial Officer Rohit Anand.

Tech Mahindra share price

Tech Mahindra shares gained nearly 1% to close at Rs 1,510 apiece on NSE today, ahead of the earnings announcement. The stock jumped more than 6% in one week and nearly 5% in one month, but is overall down nearly 6% in 2026 so far.

In the longer term, it has delivered negative returns of 6% in one year, but gained over 23% in three years and 37% in five years. The company has a market capitalisation of more than Rs 1.48 lakh crore.

(With inputs from agencies)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)