Tech Mahindra takes ₹272 crore hit in Q3 due to new Labour Codes

Tech Mahindra announced its quarter three financial results on Friday. The group presented an incremental impact of nearly ₹272 crore related to employee benefit obligations under "Exceptional item" due to the introduction of new Labour Codes. The company's revenue stood at ₹14,393 crore, a rise of 8.3% year-on-year and profit after tax (PAT) was ₹1,122 crore, up 14.1% year-on-year.