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Tech Mahindra Q4: PAT down 30% QoQ; market turnaround seen in 3-4 months

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MUMBAI: Information technology services provider Tech Mahindra Ltd on Thursday reported a consolidated net profit of ₹804 crore for the March quarter, down 29.9% sequentially.

Profit would have been higher but for $28 million (around ₹210 crore) worth of impairment charges. Revenue from operations fell 1.7% from a quarter ago to ₹9,490.

Analysts had estimated the company's revenue at ₹9,714.9 crore and net profit at ₹1,002.3 crore. Revenue for fiscal 2020 was at ₹36,868 crore, up 6.1% year-on-year, while profit fell 6.2% to ₹4,033 crore.

In dollar terms, the company reported a profit of $182.7 million and revenue of $1,294.6 million for the March quarter. The company’s Indian peers have estimated that Q1 FY21 will see peak demand impact

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