Tech Mahindra Q4 Profit Slides 17.4% To Rs 1,081 Crore

Tech Mahindra Results: Consolidated revenue for the quarter at Rs 9,729.9 crore grew by0.9 per cent over Rs 9,647.1 crore in December quarter.

Software services company Tech Mahindra recorded a 17.4% slide in consolidated profit which stood at Rs 1,081.4 crore for the quarter ended March 2021 (Q4). The profit in the previous quarter was at Rs 1,309.8 crore. Consolidated revenue for the quarter at Rs 9,729.9 crore grew by 0.9 per cent over Rs 9,647.1 crore in December quarter. The company's IT services business registered a 1% sequential growth in revenue at Rs 8,673 crore, but the BPO segment revenue was almost flat at Rs 1,056.9 crore in Q4 of FY21 against Rs 1,056.6 crore in Q3 of FY21. Life Insurance Corporation of India (LIC) had raised its stake in Tech Mahindra to 2.64% at the end of March 2021, from its earlier share of 2.03%.