Tech Mahindra boosts workforce by 6,653 in Q2, headcount climbs to 154,273

As of September, Tech Mahindra's employee count rose to 154,273 from 147,620 last quarter, while attrition slightly increased to 10.6 per cent, with IT attrition at 11 per cent

Tech Mahindra, a prominent player in India’s IT services sector, has made notable strides in expanding its workforce during the second quarter of the current financial year. The company added 6,653 new employees, which represents an increase of 3,669 compared to the same period last year.

Among the leading five IT services companies in India, Tech Mahindra recorded the largest growth in headcount. In contrast, Tata Consultancy Services added 5,726 employees, while Infosys recruited 2,456. Wipro experienced a more modest gain of 978 employees, and HCLTech’s workforce declined due to divestment.

2,000 freshers hired

Tech Mahindra also welcomed 2,000 new graduates to its team. Chief Financial Officer Rohit Anand said the recruitment of over 2,000 freshers during this quarter is part of the company’s goal to hire more than 6,000 freshers overall. This increase in workforce comes after a slight decrease in the previous quarter.

As of September, Tech Mahindra’s total employee count touched 154,273, up from 147,620 in the previous quarter. The company experienced a slight uptick in its attrition rate, which rose to 10.6 per cent over the last year, with the IT attrition rate increasing to 11 per cent in Q2, compared to 10 per cent in the previous quarter.

Regarding its financial outcomes for Q2FY25, Tech Mahindra reported a remarkable 153.1 per cent year-on-year increase in net profit, reaching Rs 1,250 crore for the second quarter of FY25, surpassing market expectations. Compared to the previous quarter, net profit rose by 46.8 per cent. The company's revenue for the quarter was Rs 13,313 crore, reflecting a 3.5 per cent year-on-year growth and a 2.4 per cent increase sequentially.

Anand said, “This quarter, we see consistent performance around increasing deal wins, revenue growth, cost optimisation and steady 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.”