Key takeaways
- Report shows Tech Mahindra's headcount decreased to 152,714 amid rising attrition at 12.8%.
- Net profit rose 5% sequentially to ₹1,194 crore but fell 4.4% year-over-year.
- Company's revenue grew 4.8% quarter-over-quarter, reaching ₹13,995 crore.
- CEO emphasizes that headcount reduction is marginal and hiring continues in growth areas.
- Tech Mahindra recognized for contributions to AI, developing a sovereign large language model.
Tech Mahindra’s headcount fell to 1,52,714, down 1,559 employees from a year ago, as the company reported a last-twelve-month IT attrition rate of 12.8 percent.
“I don't think there is a very sharp cut in the cut in the head count. We obviously continue hiring where we see opportunities and in portions of our business where we are seeing growth,” Mohit Joshi, CEO of Tech Mahindra, said. “This is a marginal reduction in the workforce that you've seen this quarter. It's not a meaningful reduction.”
Tech Mahindra posted a net profit of ₹1,194 crore in the September quarter, up 5% sequentially from ₹1,140.6 crore in Q1 FY26, but a drop of 4.4% YoY.
The company’s revenue from operations came in at ₹13,995 crore, a 4.8% rise from ₹13,351 crore in the previous quarter and a 6.2% increase from ₹13,313 crore a year ago.
The company has now delivered eight straight quarters of margin improvement since outlining its FY27 plans.
On the AI front, Tech Mahindra highlighted its recognition as a key player in the IndiaAI Mission. “We are partnering to develop an indigenous, sovereign large language model with 1 trillion parameters,” Joshi said, calling it a major technical milestone.
HCLTech in this quarter added 3,489 employees with 5,196 freshers in the quarter, bringing the total number of employees to 2,26,640. The company said that it will hire more freshers this year.
