BENGALURU : Tech Mahindra, India’s fifth-largest IT services firm by revenue, reported a smaller-than-expected fall in first-quarter revenue on Thursday, on the back of demand recovery in its manufacturing and healthcare segments.
Consolidated revenue in the first quarter fell 1.2 per cent to 130.05 billion rupees ($1.55 billion). Analysts, on average, had expected revenue to fall 1.6 per cent to 129.45 billion rupees, as per LSEG data.
($1 = 83.7090 Indian rupees)
(This story has been corrected to say that analysts’ estimate was for revenue, not profit, in paragraph 2)
