Tech Mahindra Ltd <TEML.NS>, India's fifth-largest software service provider, posted a lower-than-expected fourth-quarter consolidated profit on Friday, hurt by higher taxes.
Consolidated net profit for the quarter ended March 31, fell to 5.90 billion rupees ($91.53 million), from 8.76 billion rupees a year earlier, the company said. http://bit.ly/2r3nk36
Analysts on average had expected March-quarter consolidated profit at 7.83 billion rupees, Thomson Reuters data showed.
Consolidated total tax expenses surged 28 pct to 2.32 billion rupees.
($1 = 64.4625 Indian rupees)
(Reporting by Samantha Kareen Nair in Bengaluru; Editing by Sherry Jacob-Phillips)