IT services major Tech Mahindra on July 16 reported a third consecutive quarter of order book crossing $1.07 billion. The demand was largely broad-based across verticals and markets for the April-June quarter, chief executive and managing director Mohit Joshi said.
Growth was led by manufacturing vertical that grew 9 percent on-quarter, followed by BFSI that went up by 2.7 percent, healthcare and life sciences was by 2.5 percent, while retail, logistics and transport grew 1.2 percent respectively.
Communications, which account for over 32 percent of the company’s revenue mix, declined by 1.3 percent on-quarter, while technology, media and entertainment was down by 1.7 percent.
In terms of geographies, Europe grew by 8.1 percent QoQ, followed by rest of the world at 0.6 percent. Americas that drives 48.6 percent revenue declined by 0.1 percent in Q1FY27.
Speaking during the company’s earnings conferenced, Joshi said, “We have delivered an extremely strong quarter. We clearly saw industry-leading growth, way ahead of our consensus estimates. We are seeing a positive demand environment from a Tech M perspective. I feel that all the hard work that has gone into capability building, hiring talent, winning new clients, winning in consolidation deals is paying off for us.”
He added that while manufacturing has been a huge driver of growth in Q1, BFSI, healthcare too supported, making the management very optimistic about the company’s performance in the rest of the year.
“Our retail business has been truly outperforming the competition. And even in our core business of telecoms, we continue to see year-on-year growth. Performance has been strong across the board, and we continue to expect performance to stay strong for the rest of the year, obviously given the caveat that the macroeconomic situation should not dramatically change,” Joshi said.
Tech Mahindra's Q1 results
Tech Mahindra on July 16 reported 28% rise in net profit at Rs 1,465 crore for the quarter ended June 30, 2026. It reported net profit of Rs 1,141 crore in the year-ago period. The firm missed CNBC-TV18 estimates of Q1 net profit at Rs 1,684 crore.
The firm's revenue from operations increased 18% to Rs 15,712 crore in Q1FY27 as compared to Rs 13,351 crore in Q1FY26. Analysts, on average, expected revenue of 154.76 billion rupees, according to data compiled by LSEG.
The company's EBIT margin stood at 14.4 percent, up by 60 bps QoQ and a 330 bps jump YoY.