Tech Mahindra fourth-quarter profit dives 33 per cent, misses estimates
26 May 2017 11:48 AM GMT
Company's consolidated net profit for the quarter ended March 31, fell to 5.90 billion rupees.
According to a senior techie, they were assured of new projects in case of withdrawal of complaints.
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.
( Source : PTI )
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