Tech Mahindra Edges Lower Post Q4 Results

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At 9:30 am, Tech Mahindra shares were trading lower by 0.76 per cent on the BSE

Tech Mahindra shares edged lower in early trading after the software services company reported a 17.4 per cent slide in consolidated profit for the quarter ended March 2021. At 9:30 am, the shares of Tech Mahindra were trading at Rs 955.85, lower by 0.76 per cent, on the BSE.

Tech Mahindra reported a 17.4 per cent slide in consolidated profit to Rs 1,081.4 crore for the quarter ended March 2021. The profit in the previous quarter was Rs 1,309.8 crore. Consolidated revenue for the quarter stood at Rs 9,729.9 crore, a growth of 0.9 per cent over Rs 9,647.1 crore in the December quarter.

The company’s IT services business registered a 1 per cent sequential growth in revenue at Rs 8,673 crore during the quarter, but the BPO segment revenue was almost flat at Rs 1,056.9 crore.

The BSE Sensex was at 748,532.55, higher by 152.12 points or 0.3 per cent and the NSE Nifty was at 14,534.70, up 49.80 points or 0.34 per cent.



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