Tech Mahindra Lost Over 12 Percent Intraday As Investors Reacted - Dollar Advisory & Financial Services

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Monday 29 May 2017

Tech Mahindra Lost Over 12 Percent Intraday As Investors Reacted

Tech Mahindra lost over 12 percent intraday as investors reacted negatively to the company’s results.

The IT services major posted a consolidated net profit for the March quarter at Rs 589.7 crore, a fall of 30.2 percent against Rs 845 crore quarter on quarter.

A poll of analysts by CNBC-TV18 had pegged the net profit at Rs 788 crore.

The company’s consolidated rupee revenue came in around a percent lower at Rs 7,495 crore against Rs 7,557.5 crore QoQ.

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