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Top related persons:
Adnan Abidi - 1 Kashish Tandon - 1 Sohini Goswami - 1 Piyush Pandey - 1 Manvi - 1 Varun - 1
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Bengaluru Noida New Delhi India BENGALURU dealmaking U.S Europe
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Tech Mahindra - 2 Thomson - 2 REUTERS - 1 Rights - 1 Indian IT - 1 India's Tech Mahindra - 1 Tata Consultancy Services - 1 Infosys - 1

Search resuls for: "India's Tech Mahindra"


5 mentions found


☆ India's Tech Mahindra shares slide on biggest profit drop in 16 years
  + stars: | 2023-10-26 | by ( ) www.reuters.com   time to read: 1 min
Employees walk outside the cafeteria in the Tech Mahindra office building in Noida on the outskirts of New Delhi, India March 7, 2019. Picture taken March 7, 2019. REUTERS/Adnan Abidi/File photo Acquire Licensing RightsBENGALURU, Oct 26 (Reuters) - Shares of Indian IT services company Tech Mahindra (TEML.NS) fell as much as 3.7% in early trade on Thursday, a day after the company posted its biggest profit drop in 16 years. The company reported a 61.6% fall in its consolidated net profit for the September quarter, its worst performance since March 2007. Reporting by Kashish Tandon in Bengaluru; Editing by Sohini GoswamiOur Standards: The Thomson Reuters Trust Principles.
Persons: Adnan Abidi, Kashish Tandon, Sohini Goswami Organizations: Tech Mahindra, REUTERS, Rights, Indian IT, Thomson Locations: Noida, New Delhi, India, Bengaluru
☆ India's Tech Mahindra posts biggest profit fall in 16 years
  + stars: | 2023-10-25 | by ( Manvi Pant | ) www.reuters.com   time to read: +2 min
BENGALURU, Oct 25 (Reuters) - India's Tech Mahindra (TEML.NS) on Wednesday posted its biggest fall in profit in over 16 years as expenses mounted and clients tightened spending amid a tough macroeconomic environment. Tech Mahindra's net profit for the quarter fell 61.6%, its worst performance since March 2007. Consolidated revenue from operations fell 2.02% year-on-year, while expenses rose nearly 7%, led by a 30% jump in "other expenses." "Near-term demand environment remains challenging as the telecom sector, on which Tech Mahindra has a high dependence remains stressed," said Piyush Pandey lead analyst, Yes Securities. Shares of Tech Mahindra closed 1.2% lower ahead of results, with trade volume just shy of three-quarters of the 30-day average.
Persons: Piyush Pandey, Manvi, Varun Organizations: India's Tech Mahindra, Tata Consultancy Services, Infosys, Tech, Consolidated, Tech Mahindra, Yes Securities, Thomson Locations: BENGALURU, dealmaking, U.S, Europe, EBIT, Manvi Pant, Bengaluru
☆ India's Tech Mahindra Q4 profit drops 26% as clients cut spending
  + stars: | 2023-04-27 | by ( ) www.reuters.com   time to read: 1 min
BENGALURU, April 27 (Reuters) - India's Tech Mahindra (TEML.NS) reported a drop in fourth-quarter profit on Thursday as challenging macro-economic conditions prompted clients to tighten spending. Consolidated net profit for the information technology services firm fell 25.8% to 11.18 billion rupees ($136.66 million)for the quarter ended March 31, from 15.06 billion rupees a year earlier. ($1 = 81.8100 Indian rupees)Reporting by Nishit Navin in Bengaluru; Editing by Sohini GoswamiOur Standards: The Thomson Reuters Trust Principles.
☆ India's Tech Mahindra soars 10% as Infosys veteran to join as CEO
  + stars: | 2023-03-13 | by ( ) www.reuters.com   time to read: +2 min
BENGALURU, March 13 (Reuters) - Shares of Tech Mahindra Ltd (TEML.NS) surged nearly 10% on Monday after the Indian information technology services firm appointed Infosys Ltd (INFY.NS) veteran Mohit Joshi as its new managing director and chief executive officer. Joshi has been with rival Infosys for 22 years, and is currently the president at the company. Shares of Tech Mahindra (TEML.NS) were up 8.2% at 1,148.80 rupees, Infosys (INFY.NS) fell 1.1% to 1,455.05 rupees. At least three brokerages indicated it is a welcome move for Tech Mahindra. The current average rating of 39 analysts covering Tech Mahindra is "buy" and the median price target is 1,143 rupees, according to data from Refinitiv.
☆ India's Tech Mahindra Q2 profit, revenue beats expectations
  + stars: | 2022-11-01 | by ( ) www.reuters.com   time to read: +1 min
BENGALURU, Nov 1 (Reuters) - Indian IT services provider Tech Mahindra (TEML.NS) reported better-than-expected quarterly profit and revenue on Tuesday, helped by strong demand and the company also declared a special dividend. The Pune-based company's revenue from operations increased nearly 21% to 131.3 billion Indian rupees ($1.59 billion) in the July-September quarter, but a 27% jump in expenses pulled net profit down 4% to 12.85 billion rupees. Analysts on average were expecting a profit of 12.04 billion rupees on revenue of 129.9 billion rupees, according to IBES data from Refinitiv. Tech Mahindra's stock closed up 0.7% on Tuesday, but did little to affect its roughly 39% slide this year. ($1 = 82.6710 Indian rupees)Reporting by Ashish Chandra in Bengaluru; Editing by Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.
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