Tech Mahindra Q4 net falls 59% on Satyam losses

[caption id="attachment_16246" align="alignleft" width="380" caption="Tech Mahindra reported net profit of Rs 9,220 lakh compared to 227 billion rupees a year ago. Reuters"][/caption]Mumbai: Tech Mahindra, India's No. 5 software firm on Thursday said its quarterly profit fell 59%, missing market estimates as it was hurt mainly by losses related to Satyam Computer.Tech Mahindra, a unit of tractor and utility vehicle maker Mahindra & Mahindra, reported net profit of Rs 9220 lakh compared to 227 billion rupees a year ago.Analysts, on average, expected net profit of 190 crore rupees for the company, which counts BT Group and U.S. telecom giant AT&T as clients.Earlier this week, Mahindra Satyam, which Tech Mahindra bought in 2009, reported a quarterly net loss. It was hurt by a one-time expense due to settlement of a U.S. shareholder lawsuit. The results sent its shares down as much as 6%.Mahindra Satyam, earlier called Satyam Computer, was bought by Tech Mahindra after being hit by what became India's biggest corporate fraud.Reuters