Tech Mahindra zooms despite reporting 41% fall in Q4 consolidated net profit
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Tech Mahindra is currently trading at Rs. 1291.25, up by 101.15 points or 8.50% from its previous closing of Rs. 1190.10 on the BSE.
The scrip opened at Rs. 1245.30 and has touched a high and low of Rs. 1344.95 and Rs. 1242.40 respectively. So far 610437 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1416.00 on 23-Jan-2024 and a 52 week low of Rs. 982.95 on 28-Apr-2023.
Last one week high and low of the scrip stood at Rs. 1344.95 and Rs. 1172.55 respectively. The current market cap of the company is Rs. 126417.69 crore.
The promoters holding in the company stood at 35.09%, while Institutions and Non-Institutions held 53.74% and 11.17% respectively.
Tech Mahindra has reported results for fourth quarter (Q4) and year ended March 31, 2024.
The company has reported 22.06% fall in its net profit at Rs 527.40 crore for the quarter under review as compared to Rs 676.70 crore for the same quarter in the previous year. Total income of the company decreased by 3.04% at Rs 10683.70 crore for Q4FY24 as compared Rs 11018.10 crore for the corresponding quarter previous year.
On consolidated basis, the company has reported 40.96% fall in its net profit at Rs 664.20 crore for fourth quarter ended March 31, 2024 as compared to Rs 1125.00 crore for the same quarter in the previous year. Total income of the company decreased by 5.55% at Rs 13244.80 crore for Q4FY24 as compared Rs 14023.70 crore for the corresponding quarter previous year.
For the year ended March 31, 2024, the company has reported 43.65% fall in its net profit at Rs 2128.60 crore as compared to Rs 3777.50 crore for the previous year. Total income of the company decreased by 0.99% at Rs 43351.80 crore for year under review as compared to Rs 43785.60 crore for year ended March 31, 2023.
For the year ended March 31, 2024, on the consolidated basis, the company has reported 50.65% fall in its net profit at Rs 2396.80 crore as compared to Rs 4857.00 crore for the previous year. Total income of the company decreased by 2.47% at Rs 52912.40 crore for year under review as compared to Rs 54255.20 crore for year ended March 31, 2023.
