Q1 Results: L&T Tech revenue jumps 16%, Tech Mahindra net profit jumps 34% to Rs 1,141 crore

• Net profit rises 28.48% to Rs 19 crore
• Revenue from operations rises 73% to Rs 314.5 crore
• EPS rises to Rs 0.49 per share

• L&T Tech Services net profit rises marginally on-year to Rs 316 crore in Q1 FY26.
• Revenue from operations rises 16% YoY to Rs 2,866 crore.
• EPS at nearly Rs 30 per share.

Tech Mahindra reported new deal wins worth $809 million, marking a 51% rise from the $534 million new deal wins reported in the corresponding quarter of the previous financial year. Its number of $50 million + clients rose 2% YoY to 26 during the quarter under review.

Tech Mahindra reported a 1% YoY fall in revenue in Constant Currency (CC) terms. USD revenue gained 0.4 percent YoY to $1,564 million.

“We have delivered seven consecutive quarters of margin expansion - a clear reflection of the discipline and focus across our organization. Even in an uncertain environment, our Project Fortius program continues to generate meaningful results and drive operational improvements," said TechM CFO Rohit Anand.

“Our performance is steadily strengthening, reflecting disciplined execution and a focused strategy. Deal wins have increased by 44% on a last twelve months (LTM) basis, supported by broad-based momentum across verticals and geographies," says Tech Mahindra CEO Mohit Joshi.

Tech Mahindra reported a total headcount of 148,517 at the end of the June quarter. This is 897 people higher than the headcount reported in the corresponding quarter of the previous financial year. LTM IT attrition at 12.6%

• Tech Mahindra's net profit jumped 34% YoY to Rs 1,141 crore
• Revenue rises 3% YoY to Rs 13,351 crore
• EPS at nearly Rs 13 per share.

While the geopolitical developments in May’25 had temporarily affected business in certain locations, the hospitality sector bounced back progressively thereafter. A favorable demographic profile, steady domestic demand and rising consumption levels augur well for the hospitality industry in India. Aggregate room demand in India is expected to grow ahead of supply over the next few years. Further, Government’s thrust on enhancing infrastructure and connectivity, boosting employment & promoting the tourism sector and the potential for growth in foreign tourist arrivals are expected to continue fueling growth in the Indian Hospitality industry," ITC Hotels said.

ITC Hotels shares sharply gained nearly 6% after the company released its results for the June quarter of the ongoing financial year 2026. The shares were hovering around Rs 241 apiece in the afternoon.

ITC Hotels on July 16 reported a net profit of Rs 133 crore for the first quarter of the ongoing financial year 2026. This marks a 54 percent on-year jump from the Rs 87 crore net profit reported in the corresponding quarter of the previous financial year.

The firm's revenue from operations meanwhile rose 15.5 percent on-year to Rs 815.54 crore in Q1 FY26 from Rs 705.84 crore in Q1 FY25.

The newly-listed Kalpataru shares rose 2% to trade at Rs 478 apiece. The company is set to release its results for the January-March quarter of financial year 2025 today.

L&T Tech Services (LTTS) shares were trading in the green with marginal gains at Rs 4,361 apiece. The company is set to release its results for the first quarter of the ongoing financial year 2026 today.

The shares of Onward Technologies jumped 5 percent to hit the upper circuit at Rs 379.95 apiece. This came after the company reported an 80% YoY growth in Q1 net profit.

• Net profit rises 80% YoY to Rs 13 crore
• Revenue from operations rises to Rs 133 crore
• Expenses rise to Rs 120 crore

DB Corp shares dropped nearly 2 percent after the company released its results for the April-June quarter of the ongoing financial year 2026. The shares were trading at Rs 267.20 apiece.

• Net profit falls 31% to Rs 81 crore
• Revenue from operations falls to Rs 559 crore
• Firm announces interim dividend of Rs 5 per share

Angel One shares rose 2% to trade at Rs 2,719 apiece. The company is set to release its results for the first quarter of the ongoing financial year 2026 today.

"The cross-currency impact for the sector is ranging between +50-300bps and will result in strong reported USD revenue growth. Within tier-1, only two out of six companies will report positive QoQ CC, while the rest will report revenue decline," said HDFC Securities.

For TechM which is scheduled to release its Q1 results today, the brokerage said that it expects the firm's CC revenue to fall 0.8 percent QoQ. It kept a 'Reduce' call on the stock, with a target price of Rs 1,410 apiece.

ITC Hotels shares were trading in the green with marginal gains at Rs 228.32 apiece. The company is set to release its results for the first quarter of the ongoing financial year 2026 today.

Tech Mahindra shares rose over 1% to trade at Rs 1,595 apiece. The company is set to release its results for the first quarter of the ongoing financial year 2026 today.