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.
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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)
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