Tech Mahindra’s profit surged 153.1% year-on-year to Rs 1,250 crore in the September quarter, the company announced on Saturday. The IT company's Revenue rose by 3.5% to Rs 13,313 crore over the same period. On a quarter-on-quarter basis, the company saw profit grow 46.81%, with a 2.36% rise in revenue.The company’s profit after tax (PAT) margin increased to 9.4%, marking a 280 basis point (bps) rise sequentially and a 560 bps jump year-on-year. Total contract value (TCV) from new deal wins reached $603 million during the quarter.
"This quarter we see consistent performance around increasing deal wins, revenue growth, cost optimisation and steady free cash flow generation as we continue our journey towards FY27 stated targets. In line with our capital allocation policy the board has declared an interim dividend of Rs. 15 per share," Rohit Anand, Chief Financial Officer, Tech Mahindra, said.In sector-wise performance, the communications segment saw a 1.7% decline in revenue year-on-year. However, the banking, financial services, and insurance (BFSI) segment grew by 4.5%. Technology, media, and entertainment verticals reported a 2.4% rise in revenue.Tech Mahindra’s board also declared an interim dividend of Rs 15 per share, with November 1 set as the record date.As per the company's filing on the exchange, "Declared Interim dividend of Rs. 15/- per equity shares of Rs. 5/- each i.e. 300% of the face value. 3. Fixed Friday, 01st November, 2024 as the Record date for determining the members entitled to receive the Interim dividend." The company added, "The Interim Dividend shall be paid through permitted modes, on or before 17th November, 2024, to the equity shareholders of the Company whose names appear in the Register of Members of the Company or in list of beneficial owners as at the end of business hours of Friday, 01st November, 2024."On Friday, the shares of Tech Mahindra closed at Rs 1,685.15. The 52 week high and low of the share is Rs 1,709.90 and Rs 1,098.15 respectively. According to the BSE analytics, the shares have given returns of 42.32 per cent in the last 1 year and 65.56 per cent in the last 2 years.(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Times Now Digital suggests its readers/audience to consult their financial advisors before making any money related decisions.)You may also like
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