Tech Mahindra PAT Drops 26% In Q4
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Tech Mahindra PAT Drops 26% In Q4

Pune-based Tech Mahindra on Thursday reported a drop of 25.8 per cent to Rs 1,118 crore in its consolidated profit after tax (PAT) year-on-year (YoY).

For the quarter ended 31 March, 2023, the company’s revenue was recorded at Rs 13,718 crores, down 0.1 per cent quarter-on-quarter (QoQ), up 13.2 per cent YoY.

Tech Mahindra’s EBITDA in Q4 FY23 was at Rs 2,021 crore, down 5.7 per cent QoQ, down 3.2 per cent YoY.

In a statement, CP Gurnani, Managing Director and Chief Executive Officer, Tech Mahindra, said, “As we step into FY24, we see the increasing need for businesses to stay agile by leveraging next generation technologies. We are strongly focused on helping our customers stay competitively dominant and relevant in the era of fast evolving market conditions by helping them adapt to leaner and sustainable business models”

Tech Mahindra has considered a final dividend of Rs 32 per equity share of Rs 5 each i.e., 640 per cent of the face value for the financial year ended 31 March, 2023.

The Final Dividend, if approved, will be paid by 11 August, 2023, Tech Mahindra said. This dividend is in addition to Special Dividend of Rs 18 per share paid as interim dividend in November, 2022. The total dividend for FY22-23 will be Rs 50 per share on par value of Rs 5 each i.e., 1000 per cent.

In Q4 FY23, Tech Mahindra’s total headcount was at 1,52,400, down by 4,668 QoQ.

At the market close on Thursday, Tech Mahindra’s stock was trading 0.57 per cent higher on NSE.

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