Tata Technologies Q4 results: Profit tanks 27.4% to Rs 157.20 crore; here's what management says
The consolidated revenue from operations declined 7.2 per cent YoY to Rs 1,301 crore from Rs 1,402.40 crore YoY.
- May 3, 2024,
- Updated May 3, 2024 5:13 PM IST
Tata Technologies Ltd on Friday reported 27.4 per cent year-on-year (YoY) drop in consolidated net profit at Rs 157.20 crore for the March quarter compared with Rs 216.60 crore in the same quarter last year.
The consolidated revenue from operations declined 7.2 per cent YoY to Rs 1,301 crore from Rs 1,402.40 crore YoY.
Ebit margin for the quarter came in 16.2 per cent, he same as December quarter but higher than 15.5 per cent in the same quarter last year.
In dollar terms Services segment revenues came in at $120.20 million, flat sequentially. Revenue in constant currency terms degrew 1 per cent sequentially.
Chief Financial Officer Savitha Balachandran said: “We will continue to follow a balanced approach of exercising operational discipline while strategically investing in capacity and capabilities to seize the opportunity presented by the industry’s structural transformation."
Balachandran said he was pleased with Tata Technologies' execution in FY24, having delivered 18 per cent margins consistently over the last three consecutive years, in-line with his company's stated aspiration. "We are excited about our prospects in FY25 and remain committed towards creating long-term shareholder value.”
Tata Technologies Ltd on Friday reported 27.4 per cent year-on-year (YoY) drop in consolidated net profit at Rs 157.20 crore for the March quarter compared with Rs 216.60 crore in the same quarter last year.
The consolidated revenue from operations declined 7.2 per cent YoY to Rs 1,301 crore from Rs 1,402.40 crore YoY.
Ebit margin for the quarter came in 16.2 per cent, he same as December quarter but higher than 15.5 per cent in the same quarter last year.
In dollar terms Services segment revenues came in at $120.20 million, flat sequentially. Revenue in constant currency terms degrew 1 per cent sequentially.
Chief Financial Officer Savitha Balachandran said: “We will continue to follow a balanced approach of exercising operational discipline while strategically investing in capacity and capabilities to seize the opportunity presented by the industry’s structural transformation."
Balachandran said he was pleased with Tata Technologies' execution in FY24, having delivered 18 per cent margins consistently over the last three consecutive years, in-line with his company's stated aspiration. "We are excited about our prospects in FY25 and remain committed towards creating long-term shareholder value.”