Indian corporate earnings show mixed results for ITC and Tech Mahindra

Recent financial reports from major Indian firms reveal divergent performance trends. ITC reported a significant revenue increase for the first quarter of 2026/27, rising 27.60 percent to 295.23 billion INR compared to the previous year. However, the company's profit after tax declined to 45.09 billion INR. CLSA has set a price target of 283.00 INR for ITC, suggesting a potential upside from its recent trading levels.

Tech Mahindra demonstrated strong growth in its second quarter of fiscal year 2027, with revenue reaching 161.802 billion INR, a 15.60 percent year-on-year increase. The company's profit after tax rose by 32.70 percent to 15.856 billion INR, while EBIT saw a substantial 40.50 percent increase. Additionally, Tech Mahindra secured new orders valued at 1.023 billion USD, representing a 25.40 percent increase over the same quarter last year. ICICI Securities has maintained a 'Hold' rating for the company with a price target of 1,590 INR.