Tech Mahindra's profit jumps 33% to ₹1,585.6 crore; Wipro's slips 1.4% as large deals fall 59%
Tech Mahindra's second-quarter profit rose 32.7% to ₹1,585.6 crore and the board recommended a 1:1 bonus issue (Moneycontrol; The Economic Times says 33% and ₹1,586 crore). Reuters says large deals drove a revenue beat and that the company kept its fiscal 2027 margin target. The Hindu BusinessLine quotes Mohit Joshi saying its model is resilient to H-1B visa tightening. Wipro's profit slipped 1.4% to ₹3,201 crore while revenue rose 9% (The Economic Times); Reuters says it beat revenue estimates but deal bookings fell, and BusinessLine puts the fall in large deals at 59%.
The two results show the split in Indian IT: one firm winning large contracts and one losing them while profit holds.
IT shares moved the Nifty on Thursday. A bonus issue gives shareholders more shares but no extra value on its own.
Mohit Joshi of Tech Mahindra says the firm is protected from visa tightening (The Hindu BusinessLine).
Wipro's weak deal bookings suggest demand is uneven.
Watch the next results from the large IT firms and whether Wipro's bookings recover.
DailyDrop India edition No. 12 · Morning · FRI., OCT. 16, 2026