Tata Technologies Q1 profit slides 15% on-year, VinFast woes behind

Tata Group’s manufacturing services arm Tata Technologies (Tata Tech) on Thursday recorded a 15.4% year-on-year decline in quarterly net profit, weighed down by increase in expenses incurred for purchase of technology solutions.

Net profit for the June quarter stood at Rs 162.03 crore compared with Rs 191.55 crore a year ago, the Pune-headquartered company said on Thursday. Sequentially, net profit increased by 3.04%.