Business Standard

Tech Mahindra Q1 net profit falls short of expectations at Rs 8.98 bn

Expenses for the quarter rose 8.2% to Rs 72.31 bn

Tech Mahindra

In this file photo, an employee sits at the front desk inside Tech Mahindra office building in Noida on the outskirts of New Delhi. (Photo: Reuters)

Software services exporter Tech Mahindra Ltd posted on Monday a lower-than-expected first-quarter profit, dented by higher expenses. 
The company's net profit rose to Rs 8.98 billion ($130.80 million) in the quarter ended June 30, from Rs 7.99 billion, a year earlier. 
Analysts on average had expected a net profit of Rs 9.08 billion, according to estimates compiled by Thomson Reuters I/B/E/S.
Expenses for the quarter rose 8.2 per cent to Rs 72.31 billion.   

($1 = 68.6525 Indian rupees) 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jul 30 2018 | 4:21 PM IST

Explore News