TechM Q4 profit rises 34.5% YoY; announces dividend of
Rs 30 per share
Tech Mahindra on Monday reported a 34.51 per cent year-on-year (YoY) rise in
consolidated net profit at Rs 1,081.4 crore for the March quarter of the financial year
2020-21 (FY21) as against Rs 803.9 crore posted in the corresponding quarter last year.
On a sequential basis, the figure was down 17.4 per cent from Rs 1,309.8 crore.
The March quarter revenue stood at Rs 9,729.9 crore, up 2.5 per cent YoY and 0.85 per
cent quarter-on-quarter (QoQ). The IT major had posted a revenue of Rs 9,490.2 crore
in the same period year-ago and Rs 9,647.1 crore in the December quarter of FY21.
In dollar terms, revenue came in at $1,329.6 million, up 2.7 per cent YoY while it grew
1.6 per cent QoQ. The revenue growth came in at 0.7 per cent in constant
currencycurreny (CC) terms.
Tech Mahindra missed brokerages' profit expectations although met projections on the
The profit after tax (PAT) during the quarter under review was expected to vault between
52-59 per cent year-on-year (YoY), as per analysts. Although, the same was likely to
decline on a sequential basis. Most brokerages expected the IT major to clock a 2-4 per
cent YoY rise in March quarter revenue (rupee terms). Meanwhile, in dollar terms, the
figure was expected to grow between 3-4 per cent.
“Our continued focus on cutting-edge technologies has expanded client engagement
with large deal wins this quarter. We are witnessing a strong demand acceleration and
are committed towards delivering a next-level human-centered experience of the future,
Now. The health and wellness of our associates and community at large, continues to be
our prime focus, as we navigate through this pandemic together,” said CP Gurnani,
Managing Director and Chief Executive Officer at Tech Mahindra.
Earnings before interest and tax (Ebit) during the fourth quarter rose by 68.9 per cent to
Rs 1,603.7 crore as against Rs 949.6 crore in the same quarter in the year-ago