Bad news for Anand Mahindra, this company shares declines by…, after q2 net profit falls down to…
Shares of Tech Mahindra slipped nearly 2% in Wednesday’s morning trade after the IT services company reported a 4.44% year-on-year decline in its September quarter net profit to Rs 1,194.5 crore.
The stock fell 1.85% to Rs 1,440.90 on the BSE, while on the NSE, it was down 1.88% at Rs 1,440.40.
Tech Mahindra Q2 Results
The company’s post-tax profit was lower than Rs 1,250 crore recorded in the same quarter last year but slightly higher than Rs 1,141 crore reported in the previous June quarter.
Its revenue grew to Rs 13,995 crore from Rs 13,313 crore a year ago and Rs 13,351 crore in the quarter-ago period, as per an exchange filing on Tuesday.
Its managing director and chief executive Mohit Joshi said the Americas saw an over 2 per cent decline in revenues during the quarter, mainly due to macroeconomic issues. From a sectoral perspective, its key vertical of communication witnessed a 2.5 per cent decline.
Clients in other sectors like manufacturing (up 5.2 per cent) and banking, financial services and insurance (up 6.5 per cent on-year) witnessed better spends, he said.
The pre-tax profit margin expanded by 2.54 per cent year-on-year to 12.1 per cent during the reporting quarter.
Rohit Anand On Q2 Net Profit
Its chief financial officer Rohit Anand said this is the eighth consecutive quarter of an expansion in profitability and attributed the gains in Q2 to improved productivity and currency tailwinds.
The Mahindra group company closed new deals worth USD 816 million during the quarter, a rise of 57 per cent, Joshi said, adding that the new business was broad-based, with clients from communications, manufacturing, retail, transport and logistics segments signing up for services.
Commenting on the IT services market, managing director and chief executive Mohit Joshi, said he sees the macro situations “stabilising” going ahead, but added that it is “very fragile” and discretionary spend is very limited.
“Hopefully, there will be growth in the second half of the year,” he added.
Tech Mahindra MD & CEO On Employee Headcount
Commenting on the IT services market, Joshi said he sees the macro situations “stabilising” going ahead, but added that it is “very fragile” and discretionary spend is very limited.
“Hopefully, there will be growth in the second half of the year,” he added. The total employee headcount declined by 1,559 year-on-year to 1.52 lakh staffers as of September 30, 2025.
Joshi said the company continues hiring where it sees opportunities and added that this is a marginal reduction in staff.
(With Inputs From PTI)
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