Tech Mahindra’s Q2 profit rises 32.7%....

Tech Mahindra Limited (NSE: TECHM) reported consolidated revenue of ₹16,180 crore for Q2 FY27, up 15.6% year-on-year. Net profit rose 32.7% to ₹1,586 crore for the quarter ended September 30, 2026. The company’s EBIT margin improved to 14.8%, compared with the year-ago period, while new deal wins reached $1.023 billion, up 25.4% year-on-year. These figures point to growth in both revenue and operating profitability. My view: The improvement in margins is important because it shows that profit growth is not coming from revenue expansion alone. However, the key question is whether Tech Mahindra can sustain this margin improvement as large deals move into execution. The company has retained its FY27 operating margin target of 15%. What to watch next: Track deal conversion, revenue growth and progress toward the 15% margin target in the next quarterly results. Stance: The operating trend has improved, but execution in coming quarters will determine whether the improvement is sustainable.