Tech Mahindra declines over 3% post Q3 numbers, pares losses later

In the past three months, Tech Mahindra outperformed the market by gaining 8 per cent, as compared to a 1.5 per cent rise in the S&P BSE Sensex till Friday.

Shares of Tech Mahindra dipped 3.5 per cent to Rs 767 on the BSE on Saturday after the company reported 2 per cent growth in its consolidated net profit at Rs 1,146 crore for the quarter ended December 31, 2019 (Q3FY20), on sequential basis. On a year-on-year basis, the numbers declined 5 per cent.

Revenue from operations stood at Rs 9,655 crore, up 6.4 per cent compared with Rs 9,070 crore reported in the September quarter (Q2FY20). In constant currency terms, the revenue grew 4.3 per cent QoQ. In US dollar terms, revenue rose 5.1 per cent to $ 1,353 million.

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