Tech Mahindra Q4 PAT up 228% YoY at Rs 303 cr

Country's fifth largest software company by sales Tech Mahindra's consolidated net profit grew 9.8% sequentially and 228% YoY to Rs 303 crore for the fourth quarter of FY12.

Operating profit went up just 2% QoQ and 8% over a year ago period to Rs 239 crore.

Income from operations stood at Rs 1,419 crore in the March ended quarter, down 1.8% over previous quarter while jumped 13% over a year ago period.

Analysts on average had expected net profit at Rs 318 crore and revenues at Rs 1,415 crore during the quarter.

Exceptional loss in the January-March quarter was at Rs 68 crore on dues paid as doubtful debt. Company reported forex loss of Rs 35 crore.

Tech Mahindra has decided to pay a dividend of Rs 4 a share for the financial year 2011-12.

US business contributed 34% of total revenue and Europe 46%.

Employee utilisation in the fourth quarter increased at 74% as against 73% in previous quarter.

EBITDA margins improved 90 basis points.

As of March 31, 2012, Tech Mahindra has debt of Rs 1,127 crore and cash & cash equivalent of Rs 402 crore on balance sheet.

Financial highlights for the quarter (INR)

- Consolidated Revenues at Rs 1,419 crore; up 13% YoY and down 2% QoQ

- Operating Profit (EBIDTA) at Rs 239 crore; down 8% YoY and up 2% QoQ.

- EBIDTA margins expand by 90 bps QoQ

- Consolidated PAT at Rs 303 crore; up 228% YoY and up 10% QoQ

- Earnings per Share (EPS) was at Rs 29.16 for the quarter ended March 31, 2012

Financial highlights for the Year (INR)

- Full year Revenues at Rs 5,490 crore; up 7% YoY

- EBIDTA at Rs 919 crore; down 8% YoY

- Consolidated PAT at Rs 1,095 crore; up 70% YoY

Source: www.moneycontrol.com

Thanks,

Gaurav Agarwal

Head Dealer

DENIP Consultants Pvt Ltd