Shares of Tech Mahindra fell over 6 per cent on Thursday after the company reported a 60 per cent decline in net profit to Rs 510.4 crore in the December quarter, mainly due to a sharp decline in profit margin.

The stock fell 6 per cent to Rs 1,322 on BSE.

It fell 6.24 percent to Rs 1,320.05 on NSE.

This was the biggest fall among Sensex and Nifty companies during morning deals.

In the broader equity market, the 30-share BSE Sensex was trading 584.08 points lower at 70,481.94 and the Nifty was trading 159.55 points lower at 21,294.40.

For the quarter under review, its total revenue from operations declined 4.6 per cent to Rs 13,101 crore, from Rs 13,734 crore in the year-ago period.

However, it was a sharp decline in operating profit, with margins falling to 5.4 per cent from 12 per cent in the year-ago period, that weighed on core profit.

(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)