Mahindra Satyam scrip slips 2% on Q4 earnings

Mumbai, May 19: Shares of IT services firm Mahindra Satyam on Friday fell by nearly 2 per cent after the company reported 15 per cent decline in profit after tax for the fourth quarter ended March 2013.

After falling nearly 3 per cent in intra-day trade, shares of the company finally ended at Rs 107.45, down 1.60 per cent on the BSE.

At NSE, the scrip closed at Rs 107.40, down 1.87 per cent from its previous close.

Mahindra Satyam had yesterday reported 15 per cent decline in profit after tax at Rs 454.12 crore for the fourth quarter ended March 2013 due to higher personnel expenses and provision for taxes.

Profit for the same period in the previous fiscal was at Rs 534 crore.

PTI