Tata Tech Q4 Results (Image Source: iStockphoto)
On Friday, Tata Technologies announced a consolidated net profit of Rs 157.24 crore for the quarter ending March 31, 2024. This marks a significant 27 per cent decrease compared to the Rs 216.56 crore reported in the same period last year.
Tata Technologies witnessed a nearly 8 per cent quarter-on-quarter decline in Profit After Tax (PAT), recording Rs 157.24 crore compared to Rs 170.22 crore in Q3FY24.
The consolidated revenue from operations for the quarter amounted to Rs 1,301.05 crore, marking a 7.22 per cent YoY decrease from Rs 1,402.39 crore in the same period last year.
For the full fiscal year, the Profit After Tax (PAT) stood at Rs 679.37 crore versus Rs 624.03 crore in FY23, while revenue saw a 16 per cent increase to Rs 5,226.89 crore from Rs 4,501.92 crore in FY23.
Dividend Recommendations
Additionally, the company’s board proposed dividends for the financial year concluding on March 31, 2024. They recommended a final dividend of Rs 8.40 per equity share along with a special dividend of Rs 1.65 per equity share.
As per the company’s filing on the NSE, “Recommend a final dividend of Rs. 8.40 and special dividend of Rs. 1.65 per Equity share of Rs. 2 each of the Company for the financial year ended March 31, 2024. The dividend, if approved at the Annual General Meeting (‘AGM’), shall be paid/dispatched on or after the third day from the conclusion of the 30th AGM.”
On Friday, the shares of Tata Technologies closed at Rs 1,085, 0.48 per cent down from the previous day’s closing. The 52 week high and low of the share is Rs 1,400 and Rs 1,020 respectively.
