Tech Mahindra share price today, Tech Mahindra share price BSE, Tech Mahindra Q4 results, Tech Mahindra share price target: Tech Mahindra shares on Friday, April 26 locked in a 10 percent upper circuit at Rs 1,309.1 on BSE in the morning deals, a day after the country’s sixth largest IT firm by market value, posted its Q4 earnings report.
Tech Mahindra Q4 results
The IT firm posted a consolidated net profit of Rs 661 crore for the January-March period, up 29.5 percent on a quarter-on-quarter basis. The quarterly net profit, however, fell short of analysts’ expectations. Tech Mahindra’s March-quarter revenue came in at Rs 12,871.3 crore, marking a sequential decline of 1.8 percent, according to a regulatory filing.
According to Zee Business Research, Tech Mahindra’s fourth-quarter net profit was estimated at Rs 690 crore and revenue at Rs 12,900 crore. Read more Tech Mahindra Q4 FY24 Results
Tech Mahindra Q4 Review: Here’s what Anil Singhvi says
Zee Business Managing Editor Anil Singhvi shares saw support for Tech Mahindra shares in the cash market coming in at Rs 1,140 and Rs 1,165 levels and higher levels at Rs 1,220 and Rs 1,245. Numbers look bad but outlook better, the market guru added.
Market Commentary
“As we step into FY25, we look forward to improvement in clients’ spending, which fuels our optimism for a better revenue performance ahead. Our unique ability to enable customers with transformative scale at unparalleled speed differentiates us from competitors. FY’24 posed its fair share of challenges for the IT services sector; yet, amidst the global economic uncertainties, we continue to observe a notable push towards digital adoption,” said Mohit Joshi, Chief Executive Officer and Managing Director, of Tech Mahindra.
Tech Mahindra dividend
The firm announced a final dividend of Rs 28 per equity share of the face value of Rs 5 each, i.e., a 560 percent payout, subject to approval at the forthcoming Annual General Meeting (AGM).
The article originally appeared on ZEE Business.
