Tech Mahindra Earned Rs 16 Crore Per Day In Last 90 Days: Profits Increase By 39% Compared To Last Year
The country’s leading IT company Tech Mahindra reported its earnings results for the March ending quarter on Friday, recording a stellar net profit and beating the estimated target.
On the attrition rate front, an important parameter for the present time IT companies’ health and performance, given the high competition in the sector, Tech Mahindra’s figure in the March quarter stood high at 24%, jumping from 13% in the same quarter last year.
Here’s the complete financial records of the IT major for the last quarter of FY22.
Tech Mahindra Q4 FY22 Results
- The IT giant’s profit after tax in Q4 surged 39.2% on a YoY basis to Rs 1,506 crore, exceeding the Street’s estimate of Rs 1,450 crore in the quarter.
- Its revenue from operations for the quarter stood at Rs 12,116 crore, rising 24.5% on a YoY basis.
- The company’s EBITDA rose 7.2% YoY to Rs 2,088 crore in the quarter.
- The dollar revenue in Q4 climbed 1% YoY to $1.61 billion.
- In constant currency terms, the revenue grew by 5.4% QoQ, PAT rose 24.9% YoY to $198.5 million, and free cash flow stood at $111 million.
For the financial year 2021-22, the IT major’s net profit surged 23.33% YoY to Rs 5,630.1 crore, and consolidated revenue rose 17.9% YoY to Rs 44,646 crore in the fiscal.
The IT company’s board of directors have proposed a final dividend of Rs 30/share, in addition to an interim dividend of Rs 15/share.
In FY22, the company’s total dividend stands at Rs 45/share.
Its total headcount in the March quarter increased to 1,51,173 by 4.2% sequentially, reporting an average salary hike of about 8-10% in FY22.
Tech Mahindra’s Management Commentary
The company’s MD & CEO CP Gurnani said:
“Our improved growth performance reflects the power of Human-Centered experiences, a strong focus on innovation and our ability to create a strong customer and partner ecosystem.
Tech Mahindra’s commitment towards sustainable digital transformation and investment in new-age technology stacks has resulted in one of the highest growth with large deal wins over the last 7 years.”
Comments are closed, but trackbacks and pingbacks are open.