(This April 24 story has been corrected to specify ‘fourth-quarter,’ not ‘first-quarter,’ in the headline and change the date to ‘March 31’ from ‘March 30’ in paragraph 2) HYDERABAD (Reuters) – Indian software services exporter Tech Mahindra reported a smaller-than-expected fourth-quarter revenue on Thursday as weakness in communications and hi-tech verticals continued to drag the […]
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India’s Tech Mahindra misses fourth-quarter revenue view (April 24)
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(This April 24 story has been corrected to specify ‘fourth-quarter,’ not ‘first-quarter,’ in the headline and change the date to ‘March 31’ from ‘March 30’ in paragraph 2)
HYDERABAD (Reuters) – Indian software services exporter Tech Mahindra reported a smaller-than-expected fourth-quarter revenue on Thursday as weakness in communications and hi-tech verticals continued to drag the company’s revenues.
Consolidated revenue rose 4% to 133.84 billion rupees ($1.57 billion) year-on-year in the quarter ended March 31. Analysts, on average, expected revenue to come in at 134.52 billion rupees, as per data compiled by LSEG.
($1 = 85.2750 Indian rupees)
(Reporting by Haripriya Suresh; Editing by Nivedita Bhattacharjee)