Tata Tech Q4 results: Tata Technologies released its January to March quarter results on Friday and posted a 28% decline in its year-on-year net profit, which plunged from ₹216.5 crore in Q4FY23 to ₹157.2 crore during the quarter ending March 2024.
During the period under review, Tata Technologies' revenue from operations declined 7% from ₹1,402.3 crore to ₹1,301 crore.
The board of Tata Technologies has recommended a final dividend of ₹8.40 and a special dividend of ₹1.65 per equity share of ₹2 each.
Tata Tech Q4 results: FY24 vs FY23Overall, in fiscal year 2024, Tata Technologies witnessed an 8% jump in its net profit from ₹624 crore in FY23 to ₹679.3 during the period under review.
Ending the year with a robust EBITDA margin of 18.4% and strong liquidity underscores our focus on efficiency and prudent management of resources," Tata Technologies Chief Financial Officer Savitha Balachandran said.
Tata Tech Q4 results: Tata Technologies released its January to March quarter results on Friday and posted a 28% decline in its year-on-year net profit, which plunged from ₹216.5 crore in Q4FY23 to ₹157.2 crore during the quarter ending March 2024. During the period under review, Tata Technologies' revenue from operations declined 7% from ₹1,402.3 crore to ₹1,301 crore.
The board of Tata Technologies has recommended a final dividend of ₹8.40 and a special dividend of ₹1.65 per equity share of ₹2 each. “Recommend a final dividend of Rs. 8.40 and special dividend of Rs. 1.65 per Equity share of Rs. 2 each of the Company for the financial year ended March 31, 2024. The dividend, if approved at the Annual General Meeting (‘AGM’), shall be paid/dispatched on or after the third day from the conclusion of the 30th AGM," the company said in a regulatory filing.
Sequentially, the profit after tax (PAT) of Tata Technologies reduced 7% from ₹170.2 crore during Q3FY24, while its revenue from operations marginally jumped from ₹1,289.5 crore during the quarter ending December 2023.
Tata Tech Q4 results: FY24 vs FY23
Overall, in fiscal year 2024, Tata Technologies witnessed an 8% jump in its net profit from ₹624 crore in FY23 to ₹679.3 during the period under review. During the financial year, the company's operating EBITDA stood at 15%.
“We closed a total of 12 large deals in FY24, which included one $50 Mn plus deal and five deals in the $15 to $25 million range. Our customer pyramid has continued to improve, with 2 customers added in the $10-50 million category, 2 in the $5-10 million category, and 3 in the $1-5 million category," Tata Technologies said in a regulatory filing.
“We will continue to follow a balanced approach of exercising operational discipline while strategically investing in capacity and capabilities to seize the opportunity presented by the industry’s structural transformation. Ending the year with a robust EBITDA margin of 18.4% and strong liquidity underscores our focus on efficiency and prudent management of resources," Tata Technologies Chief Financial Officer Savitha Balachandran said.
"Overall, I am pleased with our execution in FY24 and, also with having delivered over 18% margins consistently over the last three consecutive years, in-line with our stated aspiration. We are excited about our prospects in FY25 and remain committed towards creating long-term shareholder value," the CFO added.
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