Tech Mahindra posts Rs221 crore q4 loss
An upfront payment of Rs440 crore to a British customer on promised savings for a yet to be signed contract has made Tech Mahindra Ltd, India's sixth largest software exporter, post a fourth quarter loss of Rs221 crore on revenues of Rs1,021.8 crore.
Mahindra Satyam, a business and information technology services company, posted a narrower loss for the year, helped by the cost alignment to the revenue.