The early trade on Friday saw a nearly 5% decline in Tech Mahindra’s share price, following the announcement of the company’s Q1 results which were mostly in line with street predictions. On the BSE, Tech Mahindra shares dropped as much as 5.52% to ₹1,445.50 a share.
Tech Mahindra, the country’s fifth-largest provider of software services, had a net profit of ₹851.5 crore for the first quarter of FY25, up 28.8% from ₹661 crore the previous quarter.
The firm’s revenue in Q1FY25 jumped by 1% to ₹13,006 crore from ₹12,871.3 crore QoQ. Revenue in USD increased 0.7% to $1,559 million from $1548 million.
Tech Mahindra shares were down 1.26% at Rs 1,510.70 on the NSE as of 10:27 AM.
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