# Indian IT services quarterly financial performance

> Live situation record from CLSTR: https://clstr.news/situations/indian-it-services-quarterly-financial-performance
> Updated: 2026-10-15T17:20:23.000Z. Sources: 16. Developments: 2.

Major Indian IT services firms reported strong second-quarter financial results for fiscal year 2027, characterized by significant growth in deal bookings and artificial intelligence integration.

HCLTech achieved a consolidated net profit of ₹5,132 crore, an increase of 21.2% year-on-year, driven by record deal bookings of $3.3 billion. The company noted substantial growth in its advanced AI segment, which reached an annualized rate of $876 million, and announced a global partnership with Anthropic.

Similarly, Tech Mahindra reported a 15.6% increase in consolidated revenue to approximately 161.80 billion rupees. New deal bookings for the company rose 25.4% year-on-year to $1.02 billion. Leadership indicated a strategic shift toward revenue growth, noting that nearly all major contracts now include artificial intelligence-related services.

## Timeline

### 2026-10-15: Tech Mahindra reports strong Q2 revenue and increased deal wins

Tech Mahindra reported a 15.6% year-on-year revenue increase to approximately $1.70 billion, driven by strong demand for AI-integrated services and $1.02 billion in new deal wins.

4 sources. https://clstr.news/cluster/tech-mahindra-reports-strong-q2-revenue-and-increased-deal-wins

### 2026-10-12: HCLTech reports record $3.3 billion in new deal bookings for Q2

HCLTech reported a 21.2% year-on-year rise in Q2 net profit to ₹5,132 crore, driven by record $3.3 billion in new deal bookings and significant growth in advanced AI revenue.

12 sources. https://clstr.news/cluster/hcltech-reports-record-33-billion-in-deal-bookings-for-q2-fy27

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Cite as: Indian IT services quarterly financial performance. CLSTR, https://clstr.news/situations/indian-it-services-quarterly-financial-performance