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India’s Tech Mahindra falls on quarterly profit miss

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By Reuters | Updated: 25 January, 2024

Shares of India’s Tech Mahindra (TEML.NS), opens new tab fell as much as 6.2% on Thursday after the company’s third-quarter profit missed estimates.

The country’s fifth-largest IT services company on Wednesday said profit slumped 60.6% from the previous year to 5.10 billion rupees ($61.4 million) for the three months ended Dec. 31, missing analysts’ estimate of 6.17 billion rupees, according to LSEG data.

($1 = 83.1200 Indian rupees)

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