Tech Mahindra slips 4% after weak Q2; here is what investors may do
Tech Mahindra share price NSE, Tech Mahindra Q2 results: Tech Mahindra on Thursday, October 26, slipped as much as nearly 4 per cent to touch the days low of Rs 1,098.15 on the NSE in early morning deals after the IT company reported its quarterly financial results after market hours on October 25.
Tech Mahindra share price NSE, Tech Mahindra Q2 results: Tech Mahindra on Thursday, October 26, slipped as much as nearly 4 per cent to touch the day's low of Rs 1,098.15 on the NSE in early morning deals after the IT company reported its quarterly financial results after market hours on October 25. The counter finished 1.94 per cent lower at Rs 1,119.95 on NSE.
The company reported a 61 per cent year-on-year (YoY) decline in consolidated net profit to Rs 505.3 crore in the July–September quarter, mainly on account of reduced spending by clients. The company had registered a net profit of Rs 1,299.2 crore in the year-ago period, according to a regulatory filing.
The company's consolidated revenue from operations declined by 2 per cent to Rs 12,864 crore during the reported quarter from Rs 13,129.5 crore in the September 2022 quarter. Read more
Here's how the counter moved on Thursday, October 26:
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