IT services major Tech Mahindra's headcount decreased by 622 sequentially in the first quarter ended June 30, 2025. This is the third consecutive quarter of headcount decline for the Pune-headquartered company.
On a year-on-year basis, the company added 897 employees. Total headcount for Q1FY26 stood at 1,48,517.
The company’s last twelve-month (LTM) attrition has inched up to 12.6 percent, from 11.8 percent in the previous quarter.
As of Q1, the firm's peers Tata Consultancy Services (TCS) added 5,090 employees and HCLTech lost 269 employees. Despite the marginal decline in headcount, HCLTech onboarded 1,984 freshers in the reported quarter.
On July 16, Tech Mahindra reported a robust set of earnings for Q1 FY26, with the net profit jumping 34 percent year-on-year as expenses remained flat while revenue rose. The IT major reported a net profit of Rs 1,141 crore for the April-June quarter, rising from Rs 852 crore in the same period a year ago.
Consolidated revenue for the fiscal first quarter grew by 3 percent on-year to Rs 13,351 crore.
Tech Mahindra's total expenditure for the quarter remained in check, marginally falling to Rs 11,952 crore, which boosted the bottomline.
Revenue from the Americas market, which accounts for nearly half of its overall topline, fell 5.9 percent. compared to last year.
Ebit margin expanded 260 bps YoY to 11.1 percent. Sequentially, it was up by 60 bps.
Also read: Tech Mahindra Q1 Results: Net profit jumps 34% on-year, tops Rs 1,140 crore on low expenditure
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