Tech Mahindra on 16 July 2026 reported audited consolidated financial results for the quarter ended 30 June 2026, its strongest revenue-growth quarter since launching a three-year turnaround programme in April 2024.
Revenue from operations reached ₹15,712 crore, up 17.7% year-on-year and 4.2% quarter-on-quarter. In dollar terms, revenue stood at $1.66 billion, up 6.1% year-on-year. Operating profit (EBIT) rose 53.3% year-on-year to ₹2,264 crore, with EBIT margins expanding to 14.4% — up around 60 basis points sequentially and 330 basis points year-on-year. The company said it remains on track to reach a 15% operating margin for FY27.
New deal wins totalled $1.078 billion in total contract value, up 33.3% year-on-year, marking the third consecutive quarter in which deal wins have exceeded $1 billion. The company added four new clients in the $50 million-plus revenue bracket.
For working professionals and job-seekers, the workforce figures are the sharpest part of the story. Total headcount fell by 863 employees in the quarter to 146,760, continuing a multi-quarter trend of workforce reduction even as revenue and profit climbed. IT services headcount dropped 7% year-on-year even as dollar revenue grew 6.1%, a gap the company attributed to AI tools, higher productivity and staff redeployment.
Attrition, however, improved. The last-twelve-month IT attrition rate eased to 11.8%, down from 12.1% in the previous quarter — a sign of greater workforce stability even as net additions remain negative.
On the earnings call, management said the company expects to hire again later in the year. This matters for graduates and laterals who have been watching Tech Mahindra since it slowed fresher onboarding sharply in FY26 as part of its margin-recovery plan under CEO Mohit Joshi.
CFO Rohit Anand described the quarter as one of "broad-based growth, margin expansion, and disciplined working capital management." Free cash flow for the quarter was $167 million, up 94% year-on-year. Cash and cash equivalents stood at ₹9,695 crore at quarter-end.
