Tech Mahindra noticed its revenues decline by 1.2% to ₹13,005 crore in the course of the reporting quarter.
| Picture Credit score: Reuters
Shares of IT providers agency Tech Mahindra slumped almost 6% on July 26 after the corporate’s revenues declined by 1.2% in the course of the June quarter.
The inventory tanked 5.52% to ₹1,445.50 on the Bombay Inventory Change (BSE). On the Nationwide Inventory Change (NSE), it tumbled 5.60% and was buying and selling at ₹1,444.25 per share.
The inventory emerged as the largest laggard among the many Sensex and Nifty corporations. Tech Mahindra on July 25 reported a 23% leap in consolidated web revenue to ₹851 crore for the June 2024 quarter.
The Mahindra Group company posted a net profit of ₹692.5 crore prior to now yr. The corporate, which started a three-year strategic restructuring below a brand new head not too long ago, noticed its revenues decline by 1.2 % to ₹13,005 crore in the course of the reporting quarter.
The brand new managing director and chief govt Mohit Joshi mentioned the efficiency in FY25 shall be higher than the earlier interval.
