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Tech Mahindra Q4 net falls 29%; recommends final dividend of Rs 5/share

The Pune-headquartered company reported Rs 804 crore in consolidated net profit for the March quarter (Q4FY20), a decline of 29.1 per cent on year-on-year (YoY) basis

Tech Mahindra
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The company's full-year revenue stood at $5,181.9 million the whole of FY20 — a growth of 5.6 per cent in CC terms

Sai Ishwar Mumbai
IT services company Tech Mahindra on Thursday missed the profit estimates for Q4FY20 on higher employee costs and one-time impairment charge even as the company said it was expecting recovery in demand in the medium term.
 
The Pune-headquartered firm reported Rs 804 crore in consolidated net profit in the March quarter (Q4FY20), a decline of 29.1 per cent on year-on-year (YoY) basis. On a sequential quarter basis, it dropped 30 per cent. The company took an impairment charge of Rs 217.5 crore during the quarter for writing off goodwill and non-current assets.
 
Revenue for the quarter stood at Rs 9,490

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