Tech Mahindra will release its financial results for the first quarter of 2021-22 (Q1FY22) on Monday. Despite the increase in net profit, the company recorded a decline in net profit throughout the quarters of FY22.
As of Q4FY22, profit after tax (PAT) was Rs 1,038 crore. In the previous quarter, Q3FY22, the PAT was Rs 1,329 crore. The PAT was highest in the second quarter at Rs 1,559 crore.
However, the fourth quarter numbers were 8% higher than the same quarter in 2021.
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On the other hand, the company’s net income has increased steadily. From Rs 8,171 crore in the first quarter, it rose to Rs 9,546.30 crore in the last quarter of FY22. In the second and third quarters, the figures stood at Rs 9,114.92 crore and Rs 9 416.70.
In Q4FY22, the company’s revenue increased by 21% year-on-year to Rs 12,116 crore.
The company’s quarterly results for FY22 also show that EBITDA peaked in the second quarter at Rs 2,176.40 crore. This fell to Rs 1,404.10 crore in Q4FY22.
In the first and third quarter, EBITDA was Rs 1,497.70 crore and Rs 1,930 crore respectively.
The company on July 24 announced that it would set up a “Marker’s Lab” at Mahindra University in Hyderabad. It will focus on research and development in the areas of metaverse, artificial intelligence and quantum computing.
As of 11 a.m. Monday, Tech Mahindra was down almost 1.2% at Rs 1,016.20 each at BSE. On NSE, the price was 1,015.65 rupees per share, more than 1.2% lower than the previous close.