Tech Mahindra reported a 39.2% year on year (YoY) rise in
net profit at Rs 1,506 crore for the quarter ended March 31, 2022. It has
reported a net profit of Rs 1,081 crore in the year-ago period.

Its net profit for the financial year 2021-22 grew 25.7%
to Rs 5,566 crore compared to the previous financial year.

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Revenue supported by growth in both its telecom and
enterprises segment rose 24.5% YoY to Rs 12,116 crore as against Rs 9,730 crore
in the same quarter of the previous financial year. It grew 5.8% sequentially.
For the financial year 2021-22, Tech Mahindra’s revenue stood at Rs 44,646
crore, up 17% from the previous financial year.

In US dollar terms revenue for the quarter was up 5.4% at
constant currency at $1.6 billion. For fiscal 2022, Tech Mahindra reported
revenue of $5.99 billion.

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“FY22 was all about taking some bold steps with our Nxt.
Now strategy. With TechMVerse, 5G, AI, Cloud and connected solutions all coming
together to bring the NXT. Now experience to our customers and this has been
our biggest achievement last year. This is the best performance in terms of
growth in the last seven years,” said CP Gurnani, MD and CEO, Tech Mahindra.

The IT services company’s earnings per share (EPS) was at
Rs 62.8 for fiscal 2022. The firm had a free cash flow of Rs 4,417 crore for
the financial year 2022.

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Further, the Board of Directors has recommended a final
dividend of Rs 15 per share and a special dividend of Rs 15 per share on the
par value of Rs 5 for the financial year ended March 31, 2022. The final
dividend, if approved, will be paid by August 9, 2022. This dividend is in
addition to a special dividend of Rs15 per share paid as an interim dividend in
November 2021. The total dividend for the year will be Rs 45 per share on the
par value of Rs 5, the company said.

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EBIT margins for the quarter were down 160 basis points
to 13.2%. The attrition rate on a quarter on the quarter basis was marginally
down. Attrition for the March quarter came in at 23.5% on an LTM basis, from
24% in the previous quarter. Attrition was still high on a year-on-year basis.
It was 13% in the March quarter of the previous financial year.

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On Friday, Tech Mahindra shares closed 0.97% lower at Rs
1,201 per share on National Stock Exchange (NSE).