Tech Mahindra shares tumble most in six years on earnings dip

The Tech Mahindra scrip on Wednesday plunged 14 per cent to Rs 549.10, its biggest loss since January 2009, after reporting earnings that missed analysts' estimates. The company on Tuesday reported a net income of Rs 472 crore ($74 million) for the quarter ended March 31, missing the median Rs 723 crore forecast by 35 analysts.

The numbers were "impacted" by wage increases and some unfavourable movements in currencies, the Pune-based company said. Tata Consultancy Services., India's biggest software-services provider,.

This article is no longer available in our repository.

There could be multiple reasons for this.