Tech Mahindra posts Rs1,081cr profit in Q4, constant currency revenue growth at 0.7% sequentially

Consolidated revenue grew marginally 0.9% to Rs9,729.9cr in the quarter under review against Rs9,647.1cr of December 2020 quarter.

Apr 27, 2021 11:04 IST India Infoline News Service

Tech Mahindra registered a consolidated net profit of Rs1,081.4cr for the quarter ending March 2021 (Q4FY21) period, declining by 17.4% from a profit of Rs1,309cr posted in the preceding quarter. Consolidated revenue grew marginally 0.9% to Rs9,729.9cr in the quarter under review against Rs9,647.1cr of December 2020 quarter.

In the fourth quarter, in dollar terms, Tech Mahindra's revenue stood at $1,329.6M rising by 1.6% QoQ and 2.7% YoY. Meanwhile, Revenue growth at 0.7% QoQ in constant currency terms. Further, EBITDA was at $266.1M up 3.5% QoQ and 45.6% YoY.

CP Gurnani, Managing Director & Chief Executive Officer, 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.”

In the quarter, the total headcount stood at 121,054, down 847 QoQ.

Milind Kulkarni, Chief Financial Officer, 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.”

The Board has proposed a Final Dividend of Rs15/- per share (300%) and a Special Dividend of Rs15/- per share (300%) on the face value of Rs5 in addition to the Special Dividend of Rs15 /- per share declared earlier.

At around 11.56 am, Tech Mahindra is trading at Rs953.20 per piece down by 1.03% on Sensex.

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