Tech Mahindra’s Q4 consolidated net profit up 108%

Mumbai: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.