Tech Mahindra Q4 PAT slips 17% QoQ to Rs 1081 cr

The IT major's consolidated net profit fell 17.44% to Rs 1,081 crore on 0.9% rise in revenues to Rs 9,730 crore in Q4 FY21 over Q3 FY21.

The company's consolidated net profit rose 34.6% while revenue grew by 2.5% in Q4 March 2021 over Q4 March 2020. The IT company's profit before tax (PBT) jumped 60% year on year, but declined 10% quarter on quarter to Rs 1544 crore in Q4 FY21.

EBITDA grew 2.8% to Rs 1,948 crore in Q4 FY21 over Q3 FY21. EBITDA margin stood at 20% in Q4 FY21 as against 19.6% in Q3 FY21 and 14.2% in Q4 FY20.

In US Dollar terms, revenues stood at $1,329.6 million in Q4 FY21, up 1.6% quarter-on-quarter and 2.7% year-on-year. Revenue growth stood at 0.7% Q-o-Q in constant currency terms. EBITDA was at $266.1 million, registering a growth of 3.5% Q-o-Q. PAT declined 16.9% Q-o-Q to $147.70 million in Q4 FY21. Free cash flow stood at $187 million during the quarter ended March 2021.

Tech Mahindra reported a 9.8% rise in consolidated net profit to Rs 4,428 crore on 2.7% rise in revenues to Rs 37,855 crore for the year ended 31 March 2021 over the year ended on 31 March 2020.

CP Gurnani, MD & CEO of Tech Mahindra said, 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.

Milind Kulkarni, CFO of Tech Mahindra said, We have witnessed substantial margin improvement and cash flow generation this year. Our focus on delivery transformation will continue, as we increasingly witness a structural shift towards digital to adapt to the new normal. We are positioned uniquely to gain from this shift, while improving our financial and operating metrics going forward.

Total headcount fell by 847 to 1,21,054 in Q4 FY21 over Q3 FY21. Cash & cash equivalent stood at $1,780.9 million as of 31 March 2021.

The board has proposed a final dividend of Rs 15 per share and a special dividend of Rs 15 per share.

Tech Mahindra is engaged in the business of computer programming, consultancy and related services.

Shares of Tech Mahindra rose 1.34% to Rs 963.15 on Monday.

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