Tech Mahindra’s Q4 profit jumps 39.2%

Tech Mahindra on Friday reported 39.2 per cent y-o-y progress in revenue after tax (PAT) touching ₹1,506 crores for the fourth quarter ended March 31, 2022, a big soar from ₹1,081 crores in the identical quarter final yr.

On a consecutive quarter foundation, PAT grew round 10 per cent from ₹1,368 crores. Consolidated PAT for FY22 surged by 25.7 per cent y-o-y to achieve ₹5.566 crores.

Income from operations for This fall-FY22 stood at ₹12,116 crores, up by 24.5 per cent y-o-y from ₹9,729 crores. On a QoQ foundation, it jumped 5.8 per cent from ₹11,450 crores in Q3-FY22.

Consolidated income from operations for FY22 touched ₹44,646 crores, rising 17.9 per cent y-o-y.

In This fall, the corporate clocked in web new deal wins price $1.01 billion. Of this, CME (communications, media & leisure) contributed round $645 million, whereas the remaining $366 million got here from enterprise section. For total FY22, this stood at $3.28 billion.

CP Gurnani, Managing Director & Chief Govt Officer, Tech Mahindra, mentioned, “Our improved progress efficiency displays the ability of human-centered experiences, a powerful deal with innovation and our potential to create a powerful buyer and companion ecosystem. Tech Mahindra’s dedication in the direction of sustainable digital transformation and funding in new-age know-how stacks has resulted in one of many highest progress with massive deal wins over the past 7 years.”

Hiring plans

Attrition charge (LTM) for This fall-FY22 remained flat at 24 p.c identical as Q3. Whole headcount stands at 151,173, rising 4.2 per cent QoQ.

In FY22, Tech Mahindra added greater than 10,000 freshers and plans so as to add the same quantity or extra in FY23 as nicely.

“We now have invested closely in folks. We’re coaching them for hybrid working, upskilling them and enabling them to work from their hometown. It doesn’t matter whether or not it’s Vijayawada or Warangal. We invested in Tier-II cities, opened 15 new centres, invested in world supply centres. and began 4 new centres in Latin America and 4 new centres in Europe. General, the worldwide supply centre mannequin is working very nicely for us. We now have folks working throughout 95 international locations,” Gurnani mentioned whereas addressing the media.

The corporate additionally has been actively trying to find potential mergers and acquisitions to plug in gaps in sure capabilities. Tech Mahindra closed FY22 with a complete dedication of $900 million in M&A.

Dividend announcement

The Board of Administrators advisable a closing dividend of ₹15 per share and a particular dividend of ₹15 per share on par worth of ₹5(600%) for the monetary yr ended March 31, 2022, topic to approval from the members of the Firm on the forthcoming annual common assembly.

“The ultimate dividend, if authorised, shall be paid by 9 August, 2022. This dividend is along with Particular Dividend of ₹15 per share paid as interim dividend in November 2021. The entire dividend for FY 2021-22 shall be ₹45 per share on par worth of ₹5(900%),” the corporate mentioned

New Chief Monetary Officer

Tech Mahindra additionally introduced the appointment of latest CFO Rohit Anand who will take over the reins from Milind Kulkarni from June 1, 2022 onwards. Kulkarni shall be retiring after working with the corporate for over 20 years.

Anand has already been working with Tech Mahindra as World Head, Enterprise Finance for over a yr.

Gurnani mentioned, “Milind has been an integral a part of Tech Mahindra for the final 20 years, and we’re immensely grateful for his contribution to the expansion of the organisation. We might additionally prefer to congratulate Rohit Anand as he takes on a brand new function and need him all the very best for the long run.”

Revealed on

Could 13, 2022