Tata Technologies‘ posted its earnings for the quarter ended March after market close on Friday.
What Happened: The Tata Group company’s consolidated net profit for the quarter ended March came in at ₹157 crore, down around 27% from the ₹216 crore posted in the same quarter last year. Revenue from operations was at ₹1,301.05 crore, down around 7.7% from the ₹1,402 crore posted in the corresponding quarter of the previous year.
See Also: Why MRF Shares Are Slumping Over 4% Even After Announcing ₹194 Dividend
The topline number was above Bloomberg’s estimate of around ₹1,287 crore but profit fell short of the ₹177 crore mark. The company also announced the reappointment of Warren Kevin Harris as CEO and managing director for a term of three years and six months with effect from September 9, 2024.
A major chunk of the company’s revenue came in from the services segment at ₹995 crore. The technology solutions segment revenue came in at ₹305.99 crore.
The company also announced a dividend of ₹8.40 and a special dividend of ₹1.65 per share. EBITDA for the quarter was at ₹240 crore. EBITDA margin was at 18.4%.
Price Action: Tata Tech’s share price was down 0.48% to close at ₹1,085 on Friday.
Read Next: Amkay Products IPO Day 3: GMP Jumps, Subscriptions At 296x
Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.