Tech Mahindra outperformed Wipro in the June quarter of FY27, posting broad-based growth in revenue, profit and margins, while Wipro delivered revenue growth but continued to grapple with pressure on profitability. The two IT services companies announced their June-quarter earnings on Thursday.
Tech Mahindra posted a 17.6 per cent year-on-year rise in revenue at ₹15,711 crore. Net profit stood at ₹1,486 crore, up 31.6 per cent year-on-year. On a sequential basis, revenue grew 4.2 per cent and profit rose 9.5 per cent, supported by improvements across its IT and business process services businesses.
The company’s operating performance also strengthened, with EBITDA climbing 53.5 per cent year-on-year and 8.6 per cent sequentially to ₹2,264 crore. EBIT margin expanded 60 bps quarter-on-quarter to 14.4 per cent.
New deal wins
Deal momentum remained healthy as Tech Mahindra secured $1.1 billion in new deal wins in the quarter, up 33.3 per cent from a year ago. The company also expanded its large client base by adding three customers in the $10 million revenue category and four clients generating over $50 million annually.
“Strong Q1 start implies TechM will achieve its FY27E commitment without big challenges, unless macro concerns deteriorate further,” said Sandeep Shah, Director Equity Research, Equirus Securities.
Wipro, on the other hand, reported a mixed set of numbers. Revenue rose 10.6 per cent year-on-year and 1 per cent sequentially to ₹24,479 crore. However, net profit fell 4.7 per cent from the previous quarter to ₹3,352 crore, although it was marginally higher than a year earlier.
The Bengaluru-based IT major also saw operating margins decline to 16 per cent, down 130 basis points sequentially and marking the company’s lowest margin in 15 quarters. While Wipro retained a higher margin than Tech Mahindra in absolute terms, the contrasting direction of travel underscored the different trajectories of the two companies.
On the demand front, Wipro reported total bookings of $3.37 billion, down 2.4 per cent sequentially in constant currency. However, large deal bookings rose 12.9 per cent quarter-on-quarter to $1.63 billion, suggesting that big-ticket contracts continued to provide support despite a softer overall booking environment.
Looking ahead, Wipro guided for constant currency revenue growth of -1.5 per cent to +0.5 per cent for the September quarter. While the outlook was slightly better than analysts’ expectations of a -2 per cent to 0 per cent range, it still points to a cautious demand environment.
With inputs from intern Anya Sapru
Published on July 16, 2026
