Sunday, May 5 2024 | Time 04:21 Hrs(IST)
image
Business EconomyPosted at: Apr 25 2024 7:28PM


Tech Mahindra net at Rs 661 crore in Q4; Company gives dividend of Rs 28 per share

New Delhi, April 25 (UNI) Mahindra Group company Tech Mahindra, a technology consulting and digital solutions provider, on Thursday reported about 41 per cent decline in net profit at Rs 661 crore year-on-year basis for the fourth quarter ended March 31, 2024.
Total revenue from operations were down 6.2 per cent year-on-year basis at Rs 12,871 crores, the company said in a release.
Full year revenue stood at Rs 51,996 crores, down 2.4 per cent year-on-year, the company said, adding the net profit for the year is Rs 2,358 crores.
The Board of Directors has recommended a dividend of Rs 28 per share.
Commenting on the financial performance, Mohit Joshi, Chief Executive Officer and Managing Director, Tech Mahindra, said, “as we step into FY 2024-25, we look forward to improvement in clients spending, which fuels our optimism for a better revenue performance ahead. Our unique ability to enable customers with transformative scale at unparalleled speed, differentiates us from competitors.”
FY 2023-24 posed its fair share of challenges for the IT services sector. Yet, amidst the global economic uncertainties, the company continue to observe a notable push towards digital adoption, the company said.
Rohit Anand, Chief Financial Officer, Tech Mahindra, said, “With another quarter of robust cash generation, we have reported improvement in deal wins and operating margins in Q4FY’24, which has enabled consistent dividend distribution. We are confident that our actions will lead to steady earnings growth in the coming years. We will continue to focus on operational excellence and cost savings to deliver superior shareholder returns.”
UNI SKB CS1930
Please log in to get detailed story.
Tags: #Tech Mahindra net at Rs 661 crore in Q4; Company gives dividend of Rs 28 per share
More News

MRPL net drops over 40% in Q4; Final dividend at Rs 2 per share

04 May 2024 | 7:51 PM

New Delhi, May 4 (UNI) Mangalore Refinery and Petrochemicals Limited (MRPL), a subsidiary company of ONGC, on Saturday reported more than 40 percent fall in net profit at Rs 1,137 Crore during January-March or Q4 of fiscal year 2023-24 compared to Rs 1908 crore in the same period in 2022-23.

see more..
India lifts ban on onion exports amid Lok Sabha polls

India lifts ban on onion exports amid Lok Sabha polls

04 May 2024 | 6:41 PM

New Delhi, May 4 (UNI) The government on Saturday lifted the ban on onion exports, nearly six months after the restriction was imposed.

see more..

Kotak Mahindra Bank profit surges 17 pc to Rs 5,337 crore, board approves dividend

04 May 2024 | 6:08 PM

New Delhi, May 4 (UNI) Private lender Kotak Mahindra Bank on Saturday reported 16.88% year-on-year increase in consolidated net profit at Rs 5,337.20 crore for the January-March quarter (Q4) of the financial year 2023-24.

see more..

Kottayam-Kochi Rubber Market Rates

03 May 2024 | 8:27 PM

Kottayam, May 3 (UNI) Following were the Rubber Market rates announced by the Rubber Board here on Friday per quintal.

see more..

M&M leads Indian auto-pack with record-breaking 674 patents in FY24

03 May 2024 | 7:12 PM

Kolkata, May 3 (UNI) Mahindra & Mahindra (M&M), the automotive and farm equipment flagship of the Mahindra Group, has received a record 674 patents in FY24, the most of any Indian 4-wheeler automobile/farm equipment manufacturer.

see more..
image