TMTech Mahindra532755Information technology services

Tech Mahindra reported Q2 results beating estimates on revenue and margins, though profit missed expectations

By ScoutQuest · Fri 16 Oct 2026, 7:36 AM IST · 1 min read

Profit growth

8 percent

Expected profit growth

14 percent

Margin beat

35 basis points

CC growth

2.4 percent

Expected CC growth

1.6 percent

Heard on business television between 07:39:23 - 07:42:23 IST.

• Profit grew about 8% versus expected 14%, missing estimates, while margins rose 35 bps above estimates.
• This marked the 12th consecutive quarter of CC growth and 11th consecutive quarter of margin expansion; company on track for 15% margin guidance by FY27.
• CC growth came in at 2.4% versus estimate of 1.6%; retail grew 9.6% while communication, the biggest segment, grew about 6%.
• Company added about 2,000 employees; TCV stood at $1.02 billion, above $1 billion for the fourth consecutive quarter.
• Jefferies upgraded the stock from under review to hold, raising target price to Rs 1,540 from Rs 1,260, citing improving environment and continued margin expansion; Kotak Securities maintained buy with target raised to Rs 1,870 from Rs 1,750, citing an all-round performance and medium-term margin expansion opportunities.

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