Tech Mahindra announced its financial results for the fourth quarter ended March 2016 on Tuesday post market hours. The company reported 18 per cent quarter-on-quarter rise in its consolidated net profit figures at Rs 897.08 crore for the quarter under review against Rs 759.24 crore in the sequential quarter ended December 2015. Net profit of the company surged 90 per cent on year-on-year basis.
Consolidated total income of Tech Mahindra jumped 2.72 per cent qoq and 12.5 per cent yoy to Rs 6,883.73 crore in Jan-March period.
For the financial year ended March 2015, Tech Mahindra reported 18.66 per cent rise in profit after tax at Rs 3118.04 crore against Rs 2627.67 crore a year ago.
Tech Mahindra also recommended a dividend of Rs 12 per share on face value of Rs 5 for the financial year ended March 31, 2016.
The company also became the third entity, which dropped plans to set up payments bank.
Shares of the company ended 0.55 per cent up at Rs 479.25.