India's Tech Mahindra shares slide on biggest profit drop in 16 years

India’s Tech Mahindra shares slide on biggest profit drop in 16 years

October 29, 2023

By Kashish Tandon in Bengaluru

BENGALURU (Reuters) – Shares of Indian IT services company Tech Mahindra fell as much as 3.7% in early trade on Thursday, a day after the company posted its biggest profit drop in 16 years.

The company reported a 61.6% fall in its consolidated net profit for the September quarter, its worst performance since March 2007.

India's Tech Mahindra shares slide on biggest profit drop in 16 years — FILE PHOTO: Employees walk outside the cafeteria in the Tech Mahindra office building in Noida on the outskirts of New Delhi, India March 7, 2019. Picture taken March 7, 2019. REUTERS/Adnan Abidi/File photo

Tags: India, profit, tech, Tech Mahindra, technews

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