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Hot Pursuit News

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(26 Apr 2024, 10:30)

Tech Mahindra spurts as Q4 PAT climbs 29% QoQ; declares dividend of Rs 28/sh

Tech Mahindra surged 9.23% to Rs 1,300 after the IT major's consolidated net profit jumped 29.51% to Rs 661 crore in Q4 FY24 as against Rs 510.4 crore reported in Q3 FY24.


Revenue from operations stood at Rs 12,871.3 crore in the March quarter, down 1.76% from Rs 13,101.3 crore recorded in the preceding quarter of FY24.

On a year on year (YoY) basis, Tech Mahindra's net profit dropped 40.86% while revenue fell 6.17% in Q4 FY24.

EBITDA stood at Rs 1,407.8 crore in the quarter ended 31 March 2024, up 22.8% QoQ and down 30.3% YoY. EBITDA margin was at 10.9% in Q4 FY24 as compared to 8.8% in Q3 FY24 and 14.7% in Q4 FY23.

In terms of dollars (USD), revenue stood at $1,548.2 million in Q4 FY24, registering a de-growth of 1.6% QoQ and 7.2% YoY. In constant currency terms, revenue declined by 0.8% QoQ and down 6.4% YoY. Profit after tax was at $79.7 million, up 29.5% QoQ and down 41.5% YoY. Free cash flow was at $129 million in the March quarter.

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