Tech Mahindra Q4 net declines 33% to Rs 590 crore

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 Rs 590 crore, from Rs 876 crore a year earlier, the company said.

Analysts on average had expected March-quarter consolidated profit at Rs  783 crore, Thomson Reuters data showed.

Consolidated total tax expenses surged 28% to Rs 232 crore.