Tech Mahindra Ltd. (TechM), a specialist in digital transformation, consulting and business re-engineering services, announced the audited consolidated financial results for its fourth quarter and year ended March 31, 2022.
TechM’s net profit jumped by 39.2 per cent Year-on-Year for the quarter ended March 31, 2022. The firm reported a net profit of Rs. 1,506 for the January-March quarter of FY22. It had posted a net profit of Rs. 1,081 crore in the year-ago period. Its net profit for the financial year 2021-22 jumped 25.7 per cent to Rs. 5,566 crore compared to last year. For the quarter ended March 31, 2022, the company’s revenue rose 24.5 per cent YoY to Rs. 12,116 crore as against Rs. 9,730 crore in the same quarter last fiscal. For FY22, TechM’s revenue stood at Rs. 44,646 crore, up 17.0 per cent from last fiscal year.
Tech Mahindra’s earnings per share (EPS) was at Rs. 62.8 for FY22. The firm had a free cash flow of Rs. 4,417 crore for FY22. Further, the Board of Directors has recommended a final dividend of Rs. 15 per share and a special dividend of Rs. 15 per share on par value of Rs. 5 for the financial year ended March 31, 2022. The final dividend, if approved, will be paid by August 9, 2022. This dividend is in addition to special dividend of Rs. 15 per share paid as interim dividend in November 2021. The total dividend for FY22 will be Rs. 45 per share on par value of Rs. 5.
C.P. Gurnani, Managing Director & Chief Executive Officer, Tech Mahindra, said: “Our improved growth performance reflects the power of Human-Centered experiences, a strong focus on innovation and our ability to create a strong customer and partner ecosystem. Tech Mahindra’s commitment towards sustainable digital transformation and investment in new-age technology stacks has resulted in one of the highest growth with large deal wins over the last 7 years.”
Milind Kulkarni, Chief Financial Officer, Tech Mahindra, said: “Our structural profitability continues to be robust, and we look forward to continuing our journey with commitment to resilient capital return and operational efficiency backed by a comprehensive digital portfolio.”