At 12:30 pm, Tech Mahindra (TECHM) closed at ₹1,781.50 on the BSE, up 8.05% from the opening, while on the NSE it traded at ₹1,779.90, a rise of ₹129.90. The surge added ₹10,975 cr to its market capitalisation, taking it to ₹1,72,895 cr.
Consolidated net profit attributable to owners surged to ₹1,585.6 cr, a 32.74% YoY jump from ₹1,194.5 cr in Q2 FY26. Revenue from operations grew 15.6% to ₹16,180.2 cr, up 3% compared to the preceding quarter.
The profit rise was driven by stronger volume, cost controls and rupee depreciation, but the company still lagged behind the sector average of 38% net profit growth for IT firms in the quarter.
In a board meeting, Tech Mahindra approved a 1:1 bonus issue to celebrate its 40th anniversary, the first bonus in 11 years. Bonus shares will be credited by Dec 15, potentially diluting earnings per share but rewarding shareholders.
The IT index gained 3% on the day, with peers such as Infosys, TCS, and HCLTech also posting gains of 4%, 3.26% and 1% respectively, buoying the domestic market after a muted start.
Analysts are looking for a 10‑12% YoY revenue growth in the coming quarter; the company’s guidance for FY27 remains unchanged, with a projected net profit margin of 20%.