Tech Mahindra Q4 results: Net profit slips 41%, final dividend declared

Tech Mahindra reported a 41% fall in net profit for the quarter ended March 2024. Net profit slipped to Rs 664.2 crore in  the last quarter against Rs 1125 crore in the March 2023 quarter. Earnings per share of the IT firm slipped to Rs 7.48 in Q4 against Rs 12.67 in Q4 of FY23.

Stock of Tech Mahindra ended 0.34% higher at Rs 1190.10 on BSE. Market cap of the IT and software services firm rose to Rs 1.16 lakh crore. Total 0.64 lakh shares of the firm changed hands amounting to a turnover of Rs 7.53 crore on BSE. The earnings were announced after market hours on Thursday.

On an annual basis, revenue from operations fell 2.43% to Rs 51,995 crore in FY24 against Rs 53,290.2 crore in FY23. 

Net profit slipped 50.66% to Rs 2,461 crore in the last fiscal against Rs 4857 crore in FY23. 

 The board of Tech Mahindra recommended a final dividend of Rs 28 per equity share of the face value of Rs 5 each (560%) for the financial year ended March 31, 2024.