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Tech Mahindra Reports 29% Drop In Q4 Profit; Proposes Dividend
On Thursday, Tech Mahindra posted a 29 percent decline in consolidated profit at Rs 803.90 crore for the March ended quarter from the same period a year ago. Its revenue for the last quarter of 2019-20 rose by 6.72 percent to Rs 9,490 crore against Rs 8,892 a year ago.
The company also said that its board has recommended a dividend of Rs 5 per share on a par value of Rs 5 for the financial year ended March 2020, which would take the total dividend for the year, including interim dividend to Rs 15. "The final dividend, if approved, same will be paid by 7th August, 2020," Tech Mahindra said in a stock exchange filing.
"Q4 has been a quarter where some of our metrics were impacted by the environmental challenges. Efficient operations, cost optimization and delivery automation will be the key focus areas going into the next year," said Manoj Bhat, Chief Financial Officer at Tech Mahindra addressing the results.
