IT services major Tech Mahindra on Thursday reported a 40.9 per cent decline year-on-year (YoY) to Rs 661 crore for the fourth quarter ended March 31, 2024. The profit has fallen due to due to weakness in the communications and media vertical as macro headwinds weighed on overall demand.
Its consolidated revenue during January-March 2024 fell 6.2 per cent YoY to Rs 12,871 crore.
Tech Mahindra has also announced a final dividend of Rs 28 per equity share for the financial year 2023-24.
The company’s board of directors “recommended final dividend of Rs 28 per equity share of the face value of Rs 5 each (560 per cent) for the financial year ended 31st March, 2024, subject to the members’ approval at the forthcoming annual general meeting of the company”, according to a BSE filing.
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