In the lawsuit, Epic Systems alleged TCS employees of fraudulently accessing Epics software beyond the purview of the consulting contract in order to improve their competing product.
Sequentially, the profit declined 28.7% as against ₹692.5 crore in the June quarter.
The IT major expects its IT services revenue growth in the December quarter at -3.5% to -1.5%.
The revenue from operations of the IT major stood at ₹59,692 crore in the September quarter this year, up 10% (YoY) as against ₹55,309 crore in the same period last year.
Tech Mahindra share price declined 3.8% to hit an intraday low of ₹996.40 on the BSE, while it shed 6% in a week.
As per the agreement, the merger will be a share swap deal at a ratio of 73 shares of LTI for every 100 shares of Mindtree.
The maximum buyback size is 14.84% and 13.31% of the aggregate of the total paid-up share capital and free reserves of the company.
The company’s revenue from operations surged 31.5% at ₹3,400.4 crore, compared to ₹2,586 crore in the same period last year.
Infosys will announce its June to September quarterly earnings results on October 13.
TCS share price dropped 4.6% to hit a low of ₹3,116.40 levels after it reported lower-than-expected earnings for the first quarter ended June 2022.
