Shares of Tech Mahindra slipped nearly 2% in Wednesday’s morning trade after the IT services company reported a 4.44% year-on-year decline in its September quarter net profit to Rs 1194.5 crore. The stock fell 1.85% to Rs 1440.90 on the BSE while on the NSE it was down 1.88% at Rs 1440.40. Tech Mahindra Q2 Results The company’s post-tax profit was lower than Rs 1250 crore recorded in the same quarter last year but slightly higher than Rs 1141 crore reported in the previous June quarter. Its revenue grew to Rs 13995 crore from Rs 13313 crore a year ago and Rs 13351 crore in the quarter-ago period as per an exchange filing on Tuesday. Its managing director and chief executive Mohit Joshi said the Americas saw an over 2 per cent decline in revenues during the quarter mainly due to macroeconomic issues. From a sectoral perspective its key vertical of communication witnessed a 2.5 per cent decline. Clients in other sectors like manufacturing (up 5.2 per cent) and banking financial services and insurance (up 6.5 per cent on-year) witnessed better spends he said. The pre-tax profit margin expanded by 2.54 per cent year-on-year to 12.1 per cent during the reporting quarter. Rohit Anand On Q2 Net Profit Its chief financial officer Rohit Anand said this is the eighth consecutive quarter of an expansion in profitability and attributed the gains in Q2 to improved productivity and currency tailwinds. The Mahindra group company closed new deals worth USD 816 million during the quarter a rise of 57 per cent Joshi said adding that the new business was broad-based with clients from communications manufacturing retail transport and logistics segments signing up for services. Commenting on the IT services market managing director and chief executive Mohit Joshi said he sees the macro situations stabilising going ahead but added that it is very fragile and discretionary spend is very limited. Hopefully there will be growth in the second half of the year he added. Tech Mahindra MD & CEO On Employee Headcount  Commenting on the IT services market Joshi said he sees the macro situations stabilising going ahead but added that it is very fragile and discretionary spend is very limited. Hopefully there will be growth in the second half of the year he added. The total employee headcount declined by 1559 year-on-year to 1.52 lakh staffers as of September 30 2025. Joshi said the company continues hiring where it sees opportunities and added that this is a marginal reduction in staff. (With Inputs From PTI)