Tech Mahindra Q4 net profit down 7% to Rs 1,132 crore, revenue up 10%

Barring telecom, growth in other verticals has been dismal

Tech Mahindra’s (TechM’s) March 2019 quarter (fourth quarter, or Q4) results came in below D-Street expectations. The company reported 0.6 per cent sequential fall in consolidated revenue to Rs 8,892 crore (10.4 per cent up year-on-year, or YoY), against consensus estimates of Rs 9,036 crore. Net profit declined by 5.9 per cent quarter-on-quarter (QoQ) to Rs 1,132 crore, which was below estimates. On a YoY basis, net profit was down 7.3 per cent.

While the telecom segment, accounting for over 40 per cent of the company’s revenue, clocked healthy sequential growth of 4.4 per cent, the manufacturing segment declined 0.9 per