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Tech Mahindra Q4 consolidated net profit slips 8.4% to Rs 1,126.6 crore

The Mumbai-based company saw its consolidated revenue from operations increasing 10.4% to Rs 8,892.3 crore as against Rs 8,054.5 crore in the year-ago quarter

Press Trust of India  |  Mumbai 

Tech Mahindra
An employee sits at the front desk inside Tech Mahindra office building in Noida on the outskirts of New Delhi

IT major Tuesday posted a 8.4 per cent decline in consolidated to Rs 1,126.6 crore for the March 2019 quarter.

Its stood at Rs 1,230.8 crore in the corresponding period a year ago, said in a regulatory filing.

However, the Mumbai-based company saw its consolidated revenue from operations increasing 10.4 per cent to Rs 8,892.3 crore as against Rs 8,054.5 crore in the year-ago quarter, it added.

For the full fiscal, the was up 13.2 per cent to Rs 4,288.8 crore, while revenue from operations was higher by 12.9 per cent to Rs 34,742.1 crore as compared to FY2017-18.

"We had a satisfactory year, characterised by significant margin improvements, a growing digital portfolio and considerable increase in deal wins. While our Enterprise business has performed satisfactorily during the year, we are encouraged by the revival of the Communications business,"

Managing Director and Chief Executive Officer said.

The total headcount of the company stood at 1,21,082 people at the end of March 2019 quarter, an addition of 8,275 persons annually. Its active clients count stood at 938 in the said quarter.

"It has been a year of overall operational performance improvement on various fronts, leading to a significant expansion in year on year. We initiated our maiden share buyback program on the back of a healthy cash conversion during the year, with a view to returning enhanced value to our shareholders," Tech Mahindra Chief Financial Officer said.

The Board of Directors have recommended a of Rs 14 per share for the financial year ended March, 2019, subject to approval by shareholders at the forthcoming annual general meeting on July 31.

First Published: Tue, May 21 2019. 16:59 IST
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