Tech Mahindra Drags BSE IT Index Dips Over 15%

IT major Tech Mahindra, witnessed a steep fall in the opening hours of Monday’s trade on BSE. The stock fell over 15% at Rs 357.60 per share on BSE. The stock has traded on a 52 week low of Rs 395 per share on BSE. The stock is trading at 43 month low. The company reported its consolidated results of Q4FY17 on 26 May 2017. Revenue for the quarter reported Rs 7495 crore. EBIDTA stood at 898.70 crores witnessing a slip by 24.3% QoQ.

EBIDTA margin stood at 12%.This margin contraction was aided by 8.5% QoQ increase in subcontracting expenses and 5.8% QoQ increase in other expenses. PAT for the quarter came in at Rs. 589.7 crores, QoQ decline of 30.2%.

Tech Mahindra is contributing majorly to the index losses. BSE IT index is trading in negative territory slipping over 105 points at 10287 levels in the first half of the trade. 

For Quick Trial – 8962000225 ✔ 
or mail us here:
or visit
✆ - 0731-6626222 | Toll Free - 1800-3010-2007 ✔ 
Give a Missed Call for Free Trial - 09699997717 ✔

Share on Google Plus Share on Pinterest

About Suhani Varma

This is a short description in the author block about the author. You edit it by entering text in the "Biographical Info" field in the user admin panel.