Tata Tech's Net Profit Slumps 27%, Announced ₹10.05 In Dividends

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.

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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.

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