Tata Technologies’ profit drops 10% in June quarter to Rs 170 crore

Tata Technologies, a product engineering and digital services company, reported a 10% sequential decline in net profit to Rs 170.28 crore for the June quarter. Total revenues fell by 3.2% quarter-on-quarter to Rs 1,244.3 crore. The fall in revenue was attributed to a delayed ramp-up and prolonged decision-making processes. In constant currency terms, total revenue decreased by 2.1% quarter-on-quarter to $ 145.3 million. The company experienced a 200 basis point contraction in Ebitda margins, partially due to a change in the mix of offshore and onsite work, besides declining revenues. Accordingly, the Ebitda margin stood at 16.1%.