Tech Mahindra , one of India's leading IT services providers, has significantly expanded its workforce in the second quarter of the current fiscal year. The company added 6,653 new employees, marking a substantial increase of 3,669 compared to the same period last year.
Among the top five IT services firms in India, Tech Mahindra's headcount addition was the highest. Tata Consultancy Services (TCS) added 5,726 employees, while Infosys hired 2,456. Wipro saw a modest increase of 978 employees, while HCLTech 's workforce shrank due to a divestment.
Tech Mahindra hired 2,000 freshers
Rohit Anand, the company's chief financial officer, revealed that over 2,000 freshers were hired during the quarter, putting Tech Mahindra on track to meet its target of hiring more than 6,000 freshers in total. This quarter's headcount growth follows a slight dip in the previous quarter.
As of September, Tech Mahindra's total employee count reached 154,273, up from 147,620 in the previous quarter. The company's attrition rate over the past twelve months rose slightly to 10.6%. Tech Mahindra's IT attrition rate increased to 11% in Q2 as compared to 10% in the previous quarter.
How Tech Mahindra performed in second quarter
In terms of financial performance, Tech Mahindra reported a strong 153.1% year-on-year increase in net profit for Q2 FY25, surpassing market expectations. The company's revenue also grew by 3.5% year-on-year.
“This quarter we see consistent performance around increasing deal wins, revenue growth, cost optimization and steady free cash-flow generation as we continue our journey towards FY27 stated targets. In line with our capital allocation policy the board has declared an interim dividend of Rs. 15 per share," Anand said.
Among the top five IT services firms in India, Tech Mahindra's headcount addition was the highest. Tata Consultancy Services (TCS) added 5,726 employees, while Infosys hired 2,456. Wipro saw a modest increase of 978 employees, while HCLTech 's workforce shrank due to a divestment.
Tech Mahindra hired 2,000 freshers
Rohit Anand, the company's chief financial officer, revealed that over 2,000 freshers were hired during the quarter, putting Tech Mahindra on track to meet its target of hiring more than 6,000 freshers in total. This quarter's headcount growth follows a slight dip in the previous quarter.
As of September, Tech Mahindra's total employee count reached 154,273, up from 147,620 in the previous quarter. The company's attrition rate over the past twelve months rose slightly to 10.6%. Tech Mahindra's IT attrition rate increased to 11% in Q2 as compared to 10% in the previous quarter.
How Tech Mahindra performed in second quarter
In terms of financial performance, Tech Mahindra reported a strong 153.1% year-on-year increase in net profit for Q2 FY25, surpassing market expectations. The company's revenue also grew by 3.5% year-on-year.
“This quarter we see consistent performance around increasing deal wins, revenue growth, cost optimization and steady free cash-flow generation as we continue our journey towards FY27 stated targets. In line with our capital allocation policy the board has declared an interim dividend of Rs. 15 per share," Anand said.
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