Tech Mahindra pulls ahead of Wipro in Q1 FY27 results
Tech Mahindra just pulled ahead of Wipro in the Q1 FY27 results.
While both IT giants shared their numbers for the June quarter, Tech Mahindra's revenue shot up 17.6% to ₹15,711 crore and net profit jumped 31.6% to ₹1,486 crore.
Wipro, meanwhile, saw slower revenue growth at 10.6% (₹24,479 crore) and its net profit actually dipped by 4.7% from last quarter to ₹3,352 crore.
Tech Mahindra EBITDA growth exceeds 50%
Tech Mahindra didn't just grow its profits: its operating performance got a serious boost too, with EBITDA rising over 50% and margins improving.
The company also landed $1.1 billion in new deals (up 33.3%) and added seven major clients to its roster.
On the flip side, Wipro's operating margin fell to its lowest point in nearly four years and total bookings slipped by about 2%.
Still, Wipro did see some hope with bigger deal wins growing nearly 13%, showing there's demand for large projects even in a tough market.