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  Business   Companies  26 May 2017  Tech Mahindra post lower than expected profit

Tech Mahindra post lower than expected profit

REUTERS
Published : May 26, 2017, 4:56 pm IST
Updated : May 26, 2017, 4:56 pm IST

Analysts on average had expected March-quarter consolidated profit at 7.83 billion rupees

Representational Image
 Representational Image

Bengaluru: Tech Mahindra Ltd, India's fifth-largest software service provider, posted a lower-than-expected fourth-quarter consolidated profit on Friday, hurt by higher taxes.

Consolidated net profit for the quarter ended March 31, fell to 5.90 billion rupees ($91.53 million), from 8.76 billion rupees a year earlier, the company said.

Analysts on average had expected March-quarter consolidated profit at 7.83 billion rupees, Thomson Reuters data showed. Consolidated total tax expenses surged 28 pct to 2.32 billion rupees.

Tags: tech mahindra, tech mahindra net profit, tech mahindra quarterly profit
Location: India, Karnataka, Bengaluru