Toughest quarter in 5 years, says Tech Mahindra CEO as profit drops 40%

India's fifth largest IT services firm, Tech Mahindra, has suffered a 40% YoY decrease in net profit over Q1 2019 as a result of a significant narrowing of margins. The sector has been impacted by overall slowdowns, particularly in communication clients where revenues were down 8.2% YoY. Despite the dip, CEO CP Gurnani believes that some of the challenges are temporary and they "will be able to bring back our growth trajectory."

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