Tech Mahindra drops after poor Q4 result

Tech Mahindra lost 2.6% to Rs 753.35 at 09:21 IST on BSE after consolidated net profit fell 6.64% to Rs 1126.60 crore on 0.38% rise in total income to Rs 9059.40 crore in Q4 March 2019 over Q3 December 2018.

The result was announced after market hours yesterday, 21 May 2019.

Meanwhile, the S&P BSE Sensex was up 152.39 points, or 0.39% to 39,122.19

On the BSE, 38,000 shares were traded in the counter so far compared with average daily volumes of 73,000 shares in the past two weeks. The stock had hit a high of Rs 760.20 and a low of Rs 745.30 so far during the day.

 

C P Gurnani, Managing Director & Chief Executive Officer, Tech Mahindra said, the company had a satisfactory year, characterized by significant margin improvements, a growing digital portfolio and considerable increase in deal wins.

Tech Mahindra is a leading provider of digital transformation, consulting and business re-engineering services and solutions.

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