Tech Mahindra information fall in fourth quarter internet revenue
Software providers firm Tech Mahindra recorded a 17.4% slide in consolidated revenue which stood at Rs 1,081.4 crore for the quarter ended March 2021 (Q4). The revenue within the earlier quarter was at Rs 1,309.8 crore.
Consolidated income 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 firm’s IT providers enterprise registered a 1% sequential progress in income at Rs 8,673 crore, however the BPO phase income was virtually flat at Rs 1,056.9 crore in Q4 of FY21 towards 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% on the finish of March 2021, from its earlier share of two.03%.
Tech Mahindra’s income in greenback phrases grew by 1.6% sequentially to $1,329.6 million and the income progress stood at 0.7 % quarter on quarter (QoQ) in fixed forex phrases.
“Our continued focus on cutting-edge technologies has expanded client engagement with large deal wins this quarter. We are witnessing a strong demand acceleration and are committed towards delivering a next-level human-centered experience of the future,” stated Managing Director & Chief Executive Officer C P Gurnani.
