India's Tech Mahindra beats quarterly revenue estimate

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BENGALURU, July 16 : Indian software services provider Tech Mahindra reported larger-than-expected first-quarter revenue on Thursday, aided by its communications and manufacturing segments and a weak rupee.

Revenue at India's fifth-largest IT firm rose 17.7 per cent year-on-year to 157.12 billion rupees ($1.63 billion) in the three months ended June 30. Analysts, on average, expected revenue of 154.76 billion rupees, according to data compiled by LSEG. 

($1 = 96.3450 Indian rupees)

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