Tech Mahindra Q4 net dips, announces dividend of ₹14/share

prasant2020

[br] [br]IT company Tech Mahindra today reported a dip in net profit for the quarter ended March 31, hurt by a decline in its margins. Its net profit fell 6% quarter on quarter to ₹1,132 crore.[br][br]Revenues also declined quarter on quarter, falling to ₹8,892 crore as compared to ₹8,943 crore in the December quarter.[br][br]For the fourth quarter, operating margin dipped to 15.4%, lower than 16.1% of the third quarter. It board recommended dividend of ₹14 per share.[br][br]In US dollar terms, revenue rose 1.9% year on year to $1,267.5 million.[br][br]CP Gurnani, Managing Director & Chief Executive Officer, Tech Mahindra said, "We had a satisfactory year, characterized by significant margin improvements, a growing digital portfolio and considerable increase in deal wins.[br][br]While our Enterprise business has performed satisfactorily during the year, we are encouraged by the revival of the Communications business. Our continued investments into our partner ecosystem for building a unique portfolio of 5G offerings will enable us to address the Networks of the Future opportunity."[br][br]For the full year (FY19), margin improved to 15% as compared to 11.8% in FY18.[br][br]Manoj Bhat, Chief Financial Officer, Tech Mahindra said, "It has been a year of overall operational performance improvement on various fronts, leading to a significant expansion in EBITDA margin year on year. We initiated our maiden share buyback program on the back of a healthy cash conversion during the year, with a view to returning enhanced value to our shareholders."[br][br]

sakhr68

Nice share brother

prasant2020

thanks bro.....