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Tech Mahindra's Q4 consolidated net profit up 108%
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SME Times News Bureau | 26 May, 2018
Consulting and IT major Tech Mahindra on Friday reported a rise of
107.82 per cent in its consolidated net profit for the quarter ended
March 31, 2018.
According to the company, its profit after tax
for the quarter under review increased to Rs 1,222 crore from Rs 588
crore reported for the corresponding quarter of previous fiscal.
In
terms of financial year, Tech Mahindra's consolidated net profit rose
by 35.08 per cent to Rs 3,799.8 crore from Rs 2,812.9 crore reported for
2016-17.
Commenting on the Q4 performance, Tech Mahindra's
Managing Director and CEO C.P. Gurnani said: "Continued focus on
operational metrics has led to improved performance though the year.
Growth in digital areas is particularly encouraging."
In other
major developments, the company's Board recommended a dividend of Rs 14
per share and appointed Manoj Bhat as CFO effective June 1, 2018.
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