What is your view on Tech Mahindra after the latest quarter results for the Mar-20 quarter announcement?

Tech Mahindra posted 29% fall in profit at Rs.804 crore for the Mar-20 quarter. This is far below the consensus estimates of the street. EBIT for the quarter was also 10% lower at Rs.949 crore and the EBIT margin was 180 bps lower at 17.9%. Revenues for the quarter were 2% lower at Rs.9490 crore. Like most Indian companies in general and IT companies in general, the metrics of Tech Mahindra were impacted by the environmental challenges. It will now focus on efficient operations, cost optimization and delivery automation in the coming quarters. Even the CEO has admitted that the Coronavirus outbreak had brought a huge shift in the business model for the IT industry. The company management admitted that the traction of the first 3 quarters were lost in the fourth quarter. However, Tech Mahindra did benefit in the quarter from rupee weakness.