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Tech Mahindra will on Monday release its financial results for the first quarter of 2021-22 (Q1FY22). Despite net income rising, the company recorded a fall in its net profit throughout the quarters in FY22.
In Q4FY22, the 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 Q2, at Rs 1,559 crore.
However, the fourth quarter’s figures were 8 per cent higher as compared to the same quarter in 2021.
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On the other hand, the net income of the company rose steadily. From Rs 8,171 crore in the first quarter, it grew to Rs 9.546.30 crore in the last quarter of FY22. In Q2 and Q3, the figures stood at Rs 9,114.92 crore and Rs 9,416.70 respectively.
In Q4FY22, the company’s revenue rose 21 per cent year on year to Rs 12,116 crore.
The quarterly results of the company for FY22 also show that the EBITDA peaked in the second quarter at Rs 2,176.40 crore. This fell to Rs 1,404.10 crore in Q4FY22.
In Q1 and Q3 EBITDA were Rs 1,497.70 crore and Rs 1.930 crore respectively.
The company, on July 24, announced that it will set up a ‘Marker’s Lab’ at Mahindra University in Hyderabad. It will focus on research and development in the fields of Metaverse, artificial intelligence and quantum computing.
As of 11 AM on Monday, Tech Mahindra was nearly 1.2 per cent down at Rs 1016.20 apiece at BSE. On NSE, the price was Rs 1,015.65 per share, over 1.2 per cent below the previous close.
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