Tech Mahindra, a leading IT services firm, added 6,653 net employees during the second quarter (Q2) of FY25, which ended September 30, 2024.
This surge reflects the broader industry trend of IT companies ramping up hiring after a slowdown in FY24.
The company’s headcount growth in Q2 was the highest among its top five peers, surpassing Tata Consultancy Services (TCS), Infosys, HCLTech, and Wipro.
Tech Mahindra’s total workforce reached 154,273 by the end of Q2, marking a year-on-year (YoY) increase of 3,669 employees.
Attrition and Fresh Hiring Trends
Despite the robust hiring figures, Tech Mahindra experienced a slight rise in attrition. The company’s last twelve-month (LTM) attrition rate rose to 10.6 percent, up from 10.1 percent in Q1.
However, Tech Mahindra remains committed to onboarding fresh talent, targeting the addition of 6,000 freshers in the current fiscal year.
The firm hired 1,000 freshers in Q1, demonstrating its dedication to workforce expansion through experienced professionals and fresh graduates.
Comparative Analysis with IT Peers
Tech Mahindra’s hiring spree stands out in contrast to other major players in the Indian IT sector.
TCS followed closely, adding 5,726 employees in Q2, while Infosys recorded a modest increase of 2,456 employees after six consecutive quarters of workforce reduction.
Wipro added just 978 employees. HCLTech was the only major player to report a workforce decline, shedding approximately 780 employees during the quarter.
Q2 Earnings and Financial Performance
Tech Mahindra’s financial performance in Q2 was strong, with the company posting a net profit of Rs 1,250 crore, representing a staggering 153.1 percent YoY increase.
Sequentially, net profit rose by 46.8 percent. The company also outperformed market expectations in terms of revenue, posting consolidated revenue of Rs 13,313 crore, marking a 3.5 percent YoY and 2.4 percent quarter-on-quarter (QoQ) growth.
The solid financial results reinforce Tech Mahindra’s position as a key player in the IT services sector, reflecting both operational efficiency and market demand.
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