Tech Mahindra Announces Final Dividend Of Rs 28 Per Share For FY24
The total dividend for the financial year will be Rs 40 per share.
Tech Mahindra Ltd. has announced a final dividend of Rs 28 per equity share for the financial year 2024, pending approval from shareholders at the ensuing annual general meeting. The final dividend will be paid on or before Aug. 9.
The register of members and share transfer books will remain closed from July 20 to July 26 for the purpose of the AGM and reckoning entitlement to the final dividend recommended, the company announced through an exchange filing on Thursday.
The company paid Rs 12 as an interim dividend in November last year. The total dividend for the financial year will be Rs 40 per share.
Net profit of the IT major increased 27%, but missed analysts' estimates in the fourth quarter.
Tech Mahindra Q4 FY24 Highlights (Consolidated, QoQ)
Revenue down 1.8% to Rs 12,871 crore (Bloomberg estimate: Rs 12,957 crore).
EBIT down 9% at Rs 638 crore (Estimate: Rs 965 crore).
EBIT margin at 4.95% vs 5.36% (Estimate: 7.4%).
Net profit up 27% at Rs 664 crore (Estimate: Rs 745 crore).