Tech Mahindra's Q4 profit falls 26% as clients reduce spending

Tech Mahindra on Thursday reported a 27 per cent decline in its consolidated net profit for the March quarter at ₹1,179.8 crore.

The fifth largest IT services company by revenues had reported a post-tax net profit of ₹1,637.9 crore in the year-ago period.

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For FY23, its net profit came at ₹5,137.6 crore as against ₹5,794.9 crore in the year-ago period.

Its total income increased to ₹14,023.7 crore as against ₹12,436.1 crore in the year-ago period, while expenses jumped to ₹12,493.8 crore as against R$ 10,567.3 crore in the year-ago period.