Tech Mahindra posted its Q4 FY22 results on May 13, 2022.
The company’s profit for the period is up 39.2% YoY (Year on Year) to Rs 1,505 crore for the quarter under review. On a QoQ (Quarter on Quarter) basis, the company’s profit for the period attributable to the owners of the company was up 10% to Rs 1,505 crore.
Tech Mahindra’s revenue from operations was up 5.8% QoQ to Rs 12,116 crore in the quarter under review. The revenue from operations was up 24.5% YoY to Rs 12,116 crore.
Tech Mahindra’s total expenses reported a sharp jump- there was a 28.5% YoY jump in the total expenses which came in at Rs 10,567 crore from Rs 8,218 crore in Q4 FY21. This was largely due to an increase in subcontracting expenses which almost doubled to Rs 1,906 crore in the quarter under review. The employee benefits expense was also up almost 29% to Rs 6,047 crore from Rs 4,695 crore in the same quarter in the previous financial year.
The company’s attrition rate on a QoQ basis was flat at 24%, but was up from 13% in the corresponding quarter in the previous fiscal year. The total headcount in the company was up by 4.2% QoQ and 24.9% YoY to 1,51,173 employees.
Tech Mahindra’s Board of Directors recommended a final dividend payout of Rs 15 per equity share and a special dividend of Rs 15 per equity share. The final dividend, if approved, will be paid on August 9, 2022. The final dividend recommended by the Board is Rs 30 per equity share. The total dividend paid in FY22 will be Rs 45 per equity share.
CP Gurnani, Managing Director & Chief Executive Officer, Tech Mahindra, said, the company’s commitment towards sustainable digital transformation and investment in new-age technology stacks has resulted in one of the highest growths with large deal wins over the last 7 years.
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Research Analyst: Bavadharini KS