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Tech Mahindra posts 7% drop in Q4 net profit at Rs Rs 1,132.5 crore

BS Web Team/New Delhi 21 May 19 | 03:59 PM

Information technology (IT) major Tech Mahindra on Tuesday reported a consolidated net profit of Rs 1,132.5 crore for the January-March quarter, 7.32 per cent higher than the Rs 1,222 crore it posted for the same quarter a year earlier.

The company's revenue for the quarter stood at Rs 8,892.3 crore, while its earnings before interest and tax (Ebit) margin was 15.4 per cent.

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For the recently concluded quarter, analysts at IDBI Capital had forecast consolidated revenue growth of 1 per cent on a sequential (quarter-on-quarter) basis, driven mainly by a 2.5 per cent QoQ growth in the communications vertical.

"Given a strong QoQ growth rate of 4.2 per cent in Q3FY19 and a seasonal weakness in the healthcare vertical, we forecast the enterprise business to be flat QoQ. We factor in a cross-currency tailwind of nearly 50 basis points (bps)," IDBI Capital had said in a result preview note.

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