IT services major Tech Mahindra reported a 40.9 percent fall in net profit to Rs 661 crores year-on-year for the fourth quarter ended March 31, driven by continued slowdown key verticals including telecom, communications, media and entertainment.Sequentially, net profit was up by 29.5 percent. Net profit was below Moneycontrol’s estimate of touching Rs 709.47 crore in Q4.Consolidated revenue for Q4FY24 decreased 6.2 percent YoY at Rs 12,871 crore, below Moneycontrol’s estimate of Rs 12,926 crore. On a QoQ basis, revenue was down by 1.8 percent.
