Tech Mahindra posts fastest September-quarter growth, pulling ahead of Wipro
Tech Mahindra just had its fastest September-quarter growth in three years, pulling ahead of rival Wipro.
Its revenue grew by nearly 2% to $1.69 billion, mostly thanks to strong business from telecom clients and a major deal with Orange.
Meanwhile, Wipro saw its revenue dip slightly by 0.1% to $2.61 billion, hit by slowdowns in media, tech, and healthcare.
Wipro 2nd-quarter drop, Tech Mahindra profit
Wipro's small drop marks its first second-quarter decline in three years and reflects tough demand plus ongoing shifts toward AI.
In contrast, Tech Mahindra's net profit jumped 7.6% to $166 million. CEO Mohit Joshi pointed out that new data estates are helping fuel this growth.
Tech Mahindra, Wipro beat analyst forecasts
Even with economic uncertainty and tighter tech budgets, both companies managed to beat analyst revenue forecasts this quarter, showing some real resilience despite the headwinds.