Tech Mahindra Q2 profit jumps 33%

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Tech Mahindra reported a 32.7% year-on-year (YoY) rise in second-quarter net profit to ₹1,586 crore, driven primarily by its manufacturing and communications verticals. Revenue grew 15.6% to ₹16,180 crore.

Sequentially, net profit and revenue rose 8.2% and 3%, respectively. EBIT increased 40.5% to ₹2,387 crore. Deal wins exceeded $1 billion for the fourth consecutive quarter, growing 25.4%.

“With 7.2% YoY constant currency growth, we continue to sustain business momentum,” said Mohit Joshi, MD and CEO.

Addressing concerns over U.S. visa regulations, Mr. Joshi said the company’s low dependence on H-1B visas and focus on local hiring strengthened its resilience. H-1B visa holders account for about 1% of its workforce, with nearly 70% of US employees locally hired.

Tech Mahindra added 5,446 employees during the quarter, taking its headcount to 152,206.

CFO Rohit Anand said margins expanded for the 12th consecutive quarter. The board recommended an interim dividend of ₹15 per share.

business (general) / computing and information technology / IT/computer sciences / computer engineering / software / science and technology / technology (general) / USA

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