Tech Mahindra misses estimates, flags worries over global situation

Bengaluru: IT services provider Tech Mahindra posted a weak set of numbers, joining its peers, as macroeconomic uncertainty continues to cloud spends by clients, especially in its telecom vertical, which generates a third of its total revenue. Its consolidated revenue grew by 4% on a year-on-year basis to Rs 13,384 crore in the January-March quarter. However, analysts were penciling in Rs 134,52 crore, as per Reuters.