Tech Mahindra reports Q1 profit drop
Tech Mahindra just dropped its Q1 FY26 results, showing a 34% jump in net profit to ₹1,141 crore compared to last year.
Still, both profit and revenue slipped a bit from the previous quarter.
Revenue for the quarter hit ₹13,351 crore—up 2.7% year-on-year but down slightly from last quarter based on expert estimates.
New deals worth $809 million this quarter
The company pulled in $809 million worth of new deals this quarter—a solid 51% boost over last year.
CEO Mohit Joshi credits "broad-based momentum" across sectors and regions for the strong deal pipeline.
Tech Mahindra's workforce grew by nearly 900 people to 148,517, with attrition holding steady at 12.6%.
Performance of key verticals
The communications division saw small but steady growth (up 2.8% over last quarter), while BFSI (banking/finance) dipped slightly from Q4 but is up almost 5% since last year.
Manufacturing had a mixed run—up sequentially by 4%, but down compared to last year.