Tech Mahindra Q4 Results: PAT jumps 29.5% sequentially, misses analysts' estimates; Rs 28/share dividend declared

Tech Mahindra (TECHM) Q4 FY24 Results: Pune-headquartered Tech Mahindra, the country's sixth largest IT firm by market value, reported a consolidated net profit of Rs 661 crore for the January-March period, up 29.5 per cent on a quarter-on-quarter basis. The quarterly net profit, however, fell short of analysts' expectations. 

Tech Mahindra's March-quarter revenue came in at Rs 12,871.3 crore, marking a sequential decline of 1.8 per cent, according to a regulatory filing. 

According to Zee Business research, Tech Mahindra's fourth-quarter net profit was estimated at Rs 690 crore and revenue at Rs 12,900 crore. 

In dollar terms, Tech Mahindra's revenue for the March quarter declined 1.6 per cent to $1,548 million compared with the previous three months. Revenue in constant currency terms shrank 0.8 per cent sequentially, it said. 

The IT company registered $169 million in quarterly earnings before interest, taxes, depreciation and amortisation (EBITDA), up 22.9 per cent compared with the October-December period.

Revenue from the IT firm's core IT segment declined 2.0 per cent sequentially to Rs 10,954.8 crore, while that from its BPO unit slipped 0.1 per cent to Rs 1,916.5 crore. 

The IT firm declared a dividend of Rs 28 per share.

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