TechM’s Q1 net profit jumps 28% YoY to ₹1,465 crore; may restart campus hiring
Tech Mahindra reported a 28% year-on-year increase in Q1 net profit to ₹1,465 crore, driven by strong deal wins exceeding $1 billion. The company is considering restarting campus hiring as it sees improved revenue visibility and operational momentum.
Why it matters
The positive earnings report and potential return to campus hiring suggest a stabilization or recovery in the Indian IT services sector after a period of headcount reduction.
Tech Mahindra, the IT arm of the Mahindra Group on Thursday posted a 28% increase in first quarter net profit at ₹1,465 crore from ₹1,140.6 crore in the corresponding quarter a year ago.
The company’s revenue grew close to 17.7% YoY to ₹15,712 crore in Q1 FY27 from ₹ 13,351.2 crore in the same period last year.
It bagged new deals worth 1,078 million in the quarter, a 33% YoY increase over the corresponding period in the previous year. The company also reported a cash and cash equivalent of ₹ 9,695 crore in the quarter.
Mohit Joshi, CEO and Managing Director, Tech Mahindra in his commentary said the company’s earnings growth coupled with three consecutive quarters of deal wins exceeding $1 billion dollars underscored the resilience of its business and the growing relevance of its offerings.
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