RPT-Tech Mahindra reports Q4 loss on exclusivity payment

Newswire

(Repeats story issued late on Monday) MUMBAI, May 19 (Reuters) - Tech Mahindra Ltd posted a loss of 2.21 billion rupees in the fourth quarter after it accounted for one-time expense of $109.9 million (4.68 billion rupees) as exclusivity payment to a customer. The telecom software firm did not disclose the customer's identity, but Vice Chairman Vineet Nayyar said the customer would help add significant revenue for the next few years. "We are giving some savings upfront to the client, ...

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