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Tech Mahindra first-quarter profit falls short of estimates

Employees walk inside Tech Mahindra office premises in Noida on the outskirts of New Delhi March 18, 2013. REUTERS/Adnan Abidi/Files

(Reuters) - Software services exporter Tech Mahindra Ltd posted on Monday a lower-than-expected first-quarter profit, dented by higher expenses.

The company's net profit rose to 8.98 billion rupees ($130.80 million) in the quarter ended June 30, from 7.99 billion rupees, a year earlier https://bit.ly/2OsZj0D.

Analysts on average had expected a net profit of 9.08 billion rupees, according to estimates compiled by Thomson Reuters I/B/E/S.

Expenses for the quarter rose 8.2 percent to 72.31 billion rupees.


($1 = 68.6525 Indian rupees)


(Reporting by Abinaya Vijayaraghavan in Bengaluru, Editing by Sherry Jacob-Phillips)