Tech Mahindra’s Q2 filing shows revenue at $1,693 million, a 2% rise from the prior quarter and 2.4% in constant currency terms, eclipsing CNBC‑TV18’s estimate of $1,682 million and beating the 1.4% forecast.
The IT services firm added 5,500 employees in September, lifting its headcount to 1.52 lakh—surpassing Bloomberg’s consensus of 1.49 lakh—and marking its largest quarterly gain in two years.
Attrition eased to 11.7% in the last twelve months, down from 12.8% a year earlier and 11.8% in June, while employee costs climbed 4.5% YoY to ₹8,232 crore, constituting about 51% of revenue.
In a sector backdrop where Wipro trimmed 6,700 staff and rivals like HCL and TCS added thousands, the Nifty IT index has surged 8.4% over the past three sessions, reflecting a tentative hiring rebound.
Management says AI toolchains under development should drive headcount efficiency in fixed‑price projects, but has not yet issued new guidance for the coming quarter.