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Friday, October 28, 2016

Tech Mahindra Q2 profit down 19%, constant currency growth at 5%




Software solutions provider Tech Mahindra's second quarter profit fell by 19.2 percent sequentially to Rs 643.4 crore, impacted by sharp fall in other income and partly by weak operational performance.

Revenue in dollar terms increased 3.6 percent sequentially to Rs 7,167.4 crore and in constant currency, that grew by 5 percent to USD 1,072.4 million in the quarter ended September 2016 (which was ahead of estimates of USD 1,060 million).