Tata Technologies Q4FY24 results: Net profit down 27% at Rs 157.24 crore

Tata Technologies, on Friday, reported a 27.39 per cent year-on-year decrease in consolidated net profit at Rs 157.24 crore for the quarter that ended on March 31 in the financial year 2023-24 (Q4FY24). The company had reported a net profit of Rs 216.56  crore during the same period last year (Q4FY23).

Sequentially, the net profit went down 7.62 per cent from Rs 170.22 crore in the December quarter (Q3FY24).

The company's revenue from operations decreased by 7.22 per cent to Rs 1,301.05 crore in Q4, compared to Rs 1,402.39 crore reported in the year before. On a quarter-on-quarter basis, the revenue for operations stood at Rs 1,289.45 crore.

The company reported a total income of Rs 1,325.19 crore for Q4FY24. This was a decrease of 8.58 per cent from Rs 1,449.62 crore reported during the year-ago period. On a quarter-on-quarter basis, the total income was up 0.38 per cent. It was Rs 1,320.14 crore in Q3FY24.

For the entire financial year, the company reported a rise in net profit by 8.86 per cent at Rs 679.37 crore, compared to Rs 624.03 crore reported at the end of FY23.

The company's revenue from operations for FY24 rose by 15.92 per cent at Rs 5,117.20 crore, compared to Rs 4,414.18 crore in the previous financial year. 

The company's total income increased by 16.23 per cent at Rs 5,232.75 crore in FY24, compared to Rs 4,501.92 crore reported in FY23.

Tata Technologies announced an interim dividend of Rs 10.05 per share.

Tata Technologies stock closed at Rs 1,085.0 on Friday.