Tata Technologies Ltd. (TTL) reported Q4 consolidated net profit declined 27% to ₹157.2 crore against ₹216.56 crore in the year earlier period. Net margin was at 12.1%.
For the quarter ended March, the firm reported lower revenue from operations at ₹1,301 crore against ₹1,402 crore a year earlier.
For FY24, TTL’s net rose to ₹679 crore against ₹624 crore in FY23. Revenue from operations rose by 15.9% YoY to ₹5,117 crore.
The board recommended a final dividend of ₹8.40 per equity share, and a special dividend of ₹1.65 per equity share.
Warren Harris, CEO, TTL said, “In the last 3 years, our revenue from operations grew at 29% CAGR while operating EBITDA grew at a 35% CAGR. We closed a total of 12 large deals in FY24 which included one $50 million plus deal, and five deals in the $15 to $25 million range.”
“Our large deal pipeline remains healthy and continues to grow. We are engaged in several large deal discussions with existing and new customers and anticipate an uptick in deal conversions in the current quarter. We continue to lead our industry in Gen AI and Software Defined Devices (SDx) services – as evidenced by the endorsement that we have received from BMW,” he added.
Savitha Balachandran, CFO, 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.”
“Overall, I am pleased with our execution in FY24 and, also with having delivered over 18% margins consistently over the last three consecutive years, Ms. Balachandran said.
