Tech Mahindra Q4 net slips 8.4% to Rs 1,126.6 cr

Chennai: IT major Tech Mahindra posted an 8.4 per cent decline in consolidated net profit to Rs 1,126.6 crore for the quarter ended 31 March, due to currency appreciation and prudent provisioning for some of the customers.

Its net profit stood at Rs 1,230.8 crore in the corresponding period a year ago.

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

For the full fiscal, the net profit 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 are overall pleased with the performance. Last time we had mentioned that focus would be on operating efficiencies, digital revenue, making sure that the communications engine starts firing. I think we have done very well on all the three counts. Our EBITDA margin has shown a significant improvement. Our digital revenue is (at an) all time high and communication group has now delivered extremely good performance,” said managing director and CEO, Tech Mahindra, C P Gurnani.

NT Bureau