Business Companies 26 May 2017 Tech Mahindra fourth ...

Tech Mahindra fourth-quarter profit dives 33 per cent, misses estimates

PTI
Published May 26, 2017, 5:18 pm IST
Updated May 26, 2017, 5:20 pm IST
Company’s consolidated net profit for the quarter ended March 31, fell to 5.90 billion rupees.
Company’s consolidated net profit for the quarter ended March 31, fell to 5.90 billion rupees.
 Company’s consolidated net profit for the quarter ended March 31, fell to 5.90 billion rupees.

Tech Mahindra Ltd India's fifth-largest software service provider, posted a lower-than-expected fourth-quarter consolidated profit on Friday, hurt by higher taxes.

Consolidated net profit for the quarter ended March 31, fell to 5.90 billion rupees ($91.53 million), from 8.76 billion rupees a year earlier, the company said.

 

Analysts on average had expected March-quarter consolidated profit at 7.83 billion rupees, Thomson Reuters data showed.

Consolidated total tax expenses surged 28 per cent to 2.32 billion rupees.

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Location: India, Delhi, New Delhi




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