Tech Mahindra Q1 profit jumps 34% YoY to ₹1,141 cr; bookings rise, expenses flat
Mumbai: Tech Mahindra reported a strong performance for the first quarter of FY26, with net profit rising 34% year-on-year to ₹1,141 crore, compared to ₹852 crore in the same quarter last year, reported Moneycontrol.
The sharp increase in profit was supported by stable expenses and growth in revenue.
The company’s consolidated revenue for the April–June quarter rose 3% year-on-year to ₹13,351 crore. Total expenditure came in slightly lower at ₹11,952 crore, helping improve the company’s bottom line.
However, revenue from the Americas—Tech Mahindra’s largest market contributing nearly half of overall revenue—declined 5.9% from the previous year.
Tech Mahindra reported net new bookings worth $809 million for the quarter, up from $798 million in the previous quarter and significantly higher than $534 million in the year-ago period.
“Our performance is steadily strengthening, reflecting disciplined execution and a focused strategy. Deal wins have increased by 44% on a last twelve months (LTM) basis, supported by broad-based momentum across verticals and geographies,” said Mohit Joshi, CEO and Managing Director of Tech Mahindra.
Rohit Anand, Chief Financial Officer, added, "We have delivered seven consecutive quarters of margin expansion — a clear reflection of the discipline and focus across our organization. Even in an uncertain environment, our Project Fortius program continues to generate meaningful results and drive operational improvements.”
On July 16, Tech Mahindra’s stock closed nearly 2% higher at ₹1,608.5 apiece on the NSE.
The company’s IT headcount stood at 79,987 at the end of the quarter, down by 622 compared to the previous quarter and 430 lower year-on-year. Attrition rose slightly to 12.6%, up from 11.8% in the preceding quarter.
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