Tech Mahindra dips 4% on margin disappointment in December earnings

In the past one month, the stock has underperformed the market by falling 19 per cent as against a 1.7 per cent rise in the S&P BSE Sensex.

Shares of Tech Mahindra dipped 4 per cent to Rs 1,444 on the BSE in Wednesday’s intra-day trade after the IT firm's earnings before interest and tax (ebit) margin declined by 40bps quarter-on-quarter (QoQ) to 14.8 per cent in December quarter (Q3FY22) due to salary hikes, higher sub costs and lower utilization.

In the past one month, the stock of information technology (IT) consulting & software company underperformed the market, by falling 19 per cent, as compared to 1.7 per cent rise in the S&P BSE Sensex. The stock has corrected 21 per cent from its record high of