TCS vs HCL Tech vs Tech Mahindra vs Wipro: Which IT Stock Won Q2 Results 2026?

Leading IT companies in India shared their Q2 FY27 financial performances, driven by AI growth and deal impacts. TCS, HCL Tech, Tech Mahindra, and Wipro showed diverse outcomes in revenue, profit, and AI initiatives, reflecting varied strategies in the competitive IT landscape. 

Tata Consultancy Services: AI Revenue and Deal Bookings 

Tata Consultancy Services (TCS) reported ₹73,188 crore in consolidated revenue for Q2 FY27, an 11.2% increase year-on-year. Net profit rose 15% to ₹13,884 crore, with deal bookings totaling $9.6 billion. TCS's AI revenue surpassed $3.1 billion, constituting over 10% of total revenue. 

The company approved an interim dividend of ₹12 per share. Despite AI-driven growth, sequential revenue growth was limited at 0.5% in constant-currency, indicating the challenge of broader business momentum acceleration. 

HCL Technologies: Revenue Growth and Major AI Deal 

HCL Technologies' revenue from operations reached ₹35,620 crore, up 11.52% YoY, surpassing TCS's growth rate. Net profit increased by 21.2% to ₹5,132 crore. The company declared an interim dividend of ₹12 per share. The $1.14 billion AI deal with Mercedes-Benz was a key highlight. 

HCL reported $219 million in advanced AI revenue for Q2 FY27, with a 78% growth in constant-currency terms. Its operating margin expanded by 131 basis points to 18.2%, driven by AI efficiencies. 

Tech Mahindra: Profit Growth Supported by AI Initiatives 

Tech Mahindra posted consolidated revenue of ₹16,180 crore, marking a 15.6% YoY increase. Net profit surged 32.7% to ₹1,586 crore. Key initiatives included AI partnerships and launching the Indus Terra model in collaboration with Nvidia and AWS. The company declared an interim dividend of ₹15 per share and announced a 1:1 bonus issue. 

Read More: TCS Share Price Surges Over 2% After Launching Industrial Intelligence Foundry! 

Wipro: Profit Decline Amid Weaker Deal Bookings 

Wipro reported ₹24,752.7 crore in gross revenue, a 9.1% YoY rise. However, a 1.4% decline in consolidated net profit to ₹3,200.6 crore was noted. Deal bookings fell to $2.6 billion from $4.7 billion a year earlier. The focus remains on reinforcing AI capabilities, including acquiring 20% of FLARRE.AI. 

Conclusion 

Tech Mahindra noted the largest profit growth at 32.7%, while TCS led in AI revenue with over $3.1 billion. HCL Tech exceeded TCS in revenue growth at 11.52%. Wipro faced a 1.4% profit decline, with $2.6 billion in deal bookings. 

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