Tech Mahindra Q4 profit falls 7% YoY to Rs 1,133 crore; firm announces Rs 14 dividend

NEW DELHI: Tech Mahindra on Tuesday reported a 7.32 per cent YoY drop in consolidated profit at Rs 1,132.50 crore for March quarter compared with Rs 1,222 crore in the same quarter last year.

Analysts in an ET NOW poll had projected a profit at Rs 1,174 crore.

Revenue for the quarter rose 10.40 per cent to Rs 8,892.30 crore compared with Rs 8,054.50 crore in the year-ago quarter.

Ebitda jumped to Rs 1,638.70 crore from Rs 1,411.90 crore on a yearly basis.

Commenting on earnings numbers, MD & CEO, CP Gurnani said: “We had a satisfactory year, characterised by significant margin improvements, a growing digital portfolio and considerable increase in deal wins. While our Enterprise business has performed satisfactorily during the year, we are encouraged by the revival of the communications business."

The board of the IT firm has recommended a dividend of Rs 14 per share on a face value of Rs 5. The dividend, if declared will be paid by August 8.

The 32nd annual general meeting of the Company will be held on July 31.

“It has been a year of overall operational performance improvement on various fronts, leading to a significant expansion in Ebitda margin year on year. We initiated our maiden share buyback program on the back of a healthy cash conversion during the year, with a view to returning enhanced value to our shareholders,” said CFO, Manoj Bhat.