Tech Mahindra share price falls over 8% on weak Q4 earnings

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Tech Mahindra share price falls over 8% on weak Q4 earnings
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Share value of Tech Mahindra touched an intraday low of Rs 498.1 down 8.79% on BSE

Tech Mahindra share value fell at the moment after the IT main reported a 29 per cent fall in consolidated revenue for the quarter ended March 2020. Share value of Tech Mahindra touched an intraday low of Rs 498.1 down 8.79% on BSE. The massive cap inventory has fallen after Four days of consecutive acquire. Tech Mahindra share opened with a lack of 5.37% at Rs 516 in comparison with the earlier shut of Rs 546 on BSE.The inventory closed 8% decrease at Rs 502.45.

Whole 2.95 lakh shares of Tech Mahindra modified fingers amounting to turnover of Rs 15.02 crore. Tech Mahindra share stood decrease than its 5 day, 20 day, 50 day, 100 day and 200 day transferring averages The inventory has misplaced 34.28% for the reason that starting of this yr and fallen 38.63% throughout final one yr.

Internet revenue in final quarter fell to Rs 803.90 crore in comparison with Rs 1,132.50 crore in the identical interval final yr. Consolidated income rose 6.72 per cent to Rs 9,490.2 crore as towards Rs 8,892.three in the identical quarter a yr in the past.

Tech Mahindra outcomes: Revenue drops 6% to Rs 4,033 crore, income up 6% in FY20

For the fiscal ended March 2020, the agency reported a 6.2 per cent decline in revenue after tax (PAT) at Rs 4,033 crore in comparison with Rs 4,297.60 crore within the earlier fiscal. Consolidated income rose 6.1 per cent at Rs 36,868 crore in FY20 towards Rs 34,742.10 crore income in FY19, Tech Mahindra stated.

In greenback phrases, internet revenue was down 7.Eight per cent year-on-year (YoY) at $566.Eight million in FY20, whereas income jumped 4.three per cent to $5,181.9 million.

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