Tech Mahindra Q4 net up 32% to Rs227cr

by Nitin Arora, Bloomberg UTV    Apr 30, 2010

Tech Mahindra has posted an increase of 32 percent (QoQ) in its net profit at Rs 227.5 crore for the fourth quarter ended March 31, 2010. During the period, the revenues were recorded at Rs 1,180 crore, down 0.3 percent on a quarter-on-quarter basis.

"This quarter saw us consolidate our position in the arena of complete end to end outsourcing. Our robust performance this quarter is a measure of our ability to understand customer needs and tailor solutions specific to these needs," Tech Mahindra Chairman Anand Mahindra said.

The board of the company has proposed a dividend of Rs 3.5 per share on the face value of Rs 10 per share for the financial year ended March 31, 2010.

Quick Takes

Revenue down 0.3 percent at Rs 1,183.3 cr vs Rs 1,187.3 cr

Profit after tax up 31.5 percent at Rs 227.5 cr vs Rs 173 cr

Operating Profit down 0.4 percent at Rs 278.8 cr vs Rs 280 cr

Results in dollar terms (QoQ)

Revenue up 1.9 percent at $258.6 mn

Opearting Profit up 3.75 percent at $61.1 mn

Profit after tax up 33.1 percent at $49.9 mn

Factors at play:

Interest expenditure down 32 percent at Rs 31.1 cr vs Rs 45.9 cr

Head count up 3,120 during Q4

Showed other income of Rs 73.9 cr