Tech Mahindra fell 0.77% to Rs 1,824 at 9:35 IST on BSE after consolidated net profit declined 39.18% to Rs 614.20 crore on 3.25% growth in revenue from services to Rs 5058.10 crore in Q4 March 2014 over Q3 December 2013.
The result was announced after market hours on Wednesday, 14 May 2014.
Meanwhile, the BSE Sensex was up 104.08 points, or 0.44%, to 23,919.20.
On BSE, so far 18,000 shares were traded in the counter, compared with an average volume of 71,392 shares in the past one quarter.
The stock hit a high of Rs 1,846 and a low of Rs 1,813.90 so far during the day. The stock hit a 52-week high of Rs 1,936.35 on 6 March 2014. The stock hit a 52-week low of Rs 895.25 on 21 May 2013.
The stock had outperformed the market over the past one month till 14 May 2014, rising 5.67% compared with 5.24% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 0.30% as against Sensex's 16.93% rise.
The large-cap company has an equity capital of Rs 233.55 crore. Face value per share is Rs 10.
Tech Mahindra's operating profit declined 5.67% to Rs 1071.80 crore in Q4 March 2014 over Q3 December 2013.
Tech Mahindra's profit after tax (PAT) surged 54.9% to Rs 3029 crore on 31.4% growth in revenue to Rs 18831 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).
EBITDA (earnings before interest, taxation, depreciation and amortization) rose 36.6% to Rs 4184 crore in FY 2014 over FY 2013.
Tech Mahindra said that the results for the quarter and year ended 31 March 2014 include the results of merged entities giving effect to the scheme, while the results of the corresponding periods of the previous years and the previous year ended 31 March 2013 do not include the results of the merged entities and hence the same are not comparable.
The company's debt as of 31 March 2014 stood at Rs 363 crore. The company said it repaid Rs 796 crore in FY 2014. Cash and cash equivalent stood at Rs 3599 crore as of 31 March 2014. Active client count stood at 629 as against 516 in FY 2013, the company said in a statement.
Vineet Nayyar, Executive Vice Chairman, Tech Mahindra said, This has been a landmark year for Tech Mahindra with the creation of an integrated entity through one of the largest mergers in India. Our superioe execution capabilities and ability to offer expanded service lines to our customers will help in aiding our future growth.
C P Gurnani, MD & CEO, Tech Mahindra said, Our result this year is a reflection of our commitment towards growth and our passion to help our customers deal with the needs of a dramatically changing world, fuelled by hyper connectivity, and decisions at the speed of thought. I want the world to know that Tech Mahindra is well tuned to these aspects of modern business and we look at this a differentiator for growth".
Tech Mahindra's board of directors at its meeting held on Wednesday, 14 May 2014, recommended a dividend of Rs 20 per share for FY 2014.
Tech Mahindra offers information technology services and solutions.
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