Country's fifth largest software company by salesTech Mahindra 's consolidated net profit grew 9.8% sequentially and 228% YoY to Rs 303 crore for the fourth quarter of FY12.
Operating profit
went up just 2% QoQ and 8% over a year ago period to Rs 239 crore.
Income from operations stood at Rs 1,419 crore in the March ended quarter, down 1.8% over previous quarter while jumped 13% over a year ago period.
Analysts on average had expected net profit at Rs 318 crore and revenues at Rs 1,415 crore during the quarter.
Exceptional loss in the January-March quarter was at Rs 68 crore on dues paid as doubtful debt. Company reported forex loss of Rs 35 crore.
Tech Mahindra has decided to pay a dividend of Rs 4 a share for the financial year 2011-12.
US business contributed 34% of total revenue and Europe 46%.
Employee utilisation in the fourth quarter increased at 74% as against 73% in previous quarter.
EBITDA margins improved 90 basis points.
As of March 31, 2012, Tech Mahindra has debt of Rs 1,127 crore and cash & cash equivalent of Rs 402 crore on balance sheet.
Financial highlights for the quarter (INR)
- Consolidated Revenues at Rs 1,419 crore; up 13% YoY and down 2% QoQ
- Operating Profit (EBIDTA) at Rs 239 crore; down 8% YoY and up 2% QoQ.
- EBIDTA margins expand by 90 bps QoQ
- Consolidated PAT at Rs 303 crore; up 228% YoY and up 10% QoQ
- Earnings per Share (EPS) was at Rs 29.16 for the quarter ended March 31, 2012
Financial highlights for the Year (INR)
- Full year Revenues at Rs 5,490 crore; up 7% YoY
- EBIDTA at Rs 919 crore; down 8% YoY
- Consolidated PAT at Rs 1,095 crore; up 70% YoY (curtsey : money control)
Rupesh Yatesh Dalal
Head Research Department
Head Research Department
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