Tech Mahindra Q4 profit up 34 pc, dividend at Rs 30 per share

IT major Tech Mahindra on Monday posted 34.5 per cent jump in consolidated net profit at Rs 1,081 crore for the March quarter (Q4 FY21) as against Rs 804 crore in Q4 FY20.

On a sequential basis, however, the profit was down 17.4 per cent from Rs 1,310 crore.

The March quarter revenue stood at Rs 9,730 crore, up 2.5 per cent YoY as compared to Rs 9,490 crore in the same period year-ago.

The board recommended a dividend of Rs 30 per share, including a special dividend of Rs 15 per share, for FY21. It will be paid by August 11, the company said.

C P Gurn, Managing Director and Chief Executive Officer, said Tech Mahindra's 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," he said in a statement.

"The health and wellness of our associates and community at large, continues to be our prime focus, as we navigate through this pandemic together," he added.

In Q4 FY21, the company reported new deal wins at over one billion dollars as compared to 455 million dollars in the December quarter.

It added two new clients in the 10 million dollars plus bracket and seven new clients in the 5 million dollars plus category in the quarter.

( With inputs from ANI )

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