Tech Mahindra Q4 results: Tech Mahindra experienced a significant decline in net profit for the quarter ending March 2024, with a 41% decrease compared to the same period in 2023. The net profit fell to Rs 664.2 crore in the last quarter, down from Rs 1125 crore in the March 2023 quarter. This decline resulted in a decrease in earnings per share of the IT firm to Rs 7.48 in Q4, compared to Rs 12.67 in Q4 of FY23.
Tech Mahindra’s stock closed 0.34% higher at Rs 1190.10 on the BSE. Following this increase, the market capitalization of the IT and software services firm reached Rs 1.16 lakh crore. During the trading session, a total of 0.64 lakh shares of the company were exchanged, resulting in a turnover of Rs 7.53 crore on the BSE. It’s worth noting that the earnings announcement occurred after market hours on Thursday, influencing the stock’s performance during the subsequent trading session.
In FY24, Tech Mahindra saw a 2.43% decrease in revenue from operations, totaling Rs 51,995 crore compared to Rs 53,290.2 crore in FY23. This decline reflects the company’s performance on an annual basis. -Tech Mahindra Q4 results
In the last fiscal year, Tech Mahindra’s net profit declined by 50.66% to Rs 2,461 crore, down from Rs 4,857 crore in FY23.
For the financial year ended March 31, 2024, Tech Mahindra’s board recommended a final dividend of Rs 28 per equity share, each with a face value of Rs 5 (560%).
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