The Tech Mahindra scrip on Wednesday plunged 14 per cent to Rs 549.10, its biggest loss since January 2009, after reporting earnings that missed analysts' estimates. The company on Tuesday reported a net income of Rs 472 crore ($74 million) for the quarter ended March 31, missing the median Rs 723 crore forecast by 35 analysts. The numbers were "impacted" by wage increases and some unfavourable movements in currencies, the Pune-based company said. Tata Consultancy Services., India's biggest software-services provider, and Infosys also reported sales that missed estimates ...
Tech Mahindra shares tumble most in six years on earnings dip
Company on Tuesday reported a net income of Rs 472 cr ($74 million) for the quarter ended March 31, missing the median Rs 723 cr forecast by 35 analysts
Bloomberg |
First Published: Wed, May 27 2015. 22:01 IST
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