Tech Mahindra s net profit falls 27% y-o-y; BFSI business slips livemint.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from livemint.com Daily Mail and Mail on Sunday newspapers.
Tech Mahindra is likely to post modest revenue growth in the fourth quarter of the financial year 2020-21 (Q4FY21), believe analysts, led by seasonal strength in Comviva, an entity acquired by the firm in 2012, and improving traction in the manufacturing, BFSI (banking, financial services & insurance) and technology segments. The profit after tax (PAT) during the quarter under review is expected to vault between 52-59 per cent year-on-year (YoY), as per analysts. Although, the same is likely to decline on a sequential basis. Most brokerages expect the IT major to clock a 2-4 per cent YoY rise in March quarter revenue (rupee terms) when it posts its results on April 26. Meanwhile, in dollar terms, the figure is expected to grow between 3-4 per cent.