Tech Mahindra Q2 Results LIVE Updates: Net profit at ₹505.3 crore, dividend declared.

Tech Mahindra

October 25, 2023

New Delhi, India

Tech Mahindra Q2 Results

Tech Mahindra, a leading IT firm in India, has disclosed a significant decline in its Q2FY24 net profit. Here’s a summary of the key developments:

Q2FY24 Net Profit Drops 61.1% YoY

Tech Mahindra’s financial results for Q2FY24 reveal a consolidated net profit of ₹505.3 crore. This marks a substantial 61.1% decrease compared to the same quarter in the previous year when the net profit stood at ₹1,299.2 crore.

Announcement of ₹12 Interim Dividend per Share

In addition to the financial results, Tech Mahindra Limited has announced an interim dividend of ₹12 per equity share. The face value of each share is ₹5.

Indian Stock Market Closes: Nifty and Sensex Sharp Decline, But Why?

Record Date and Payment Date

The company has set Thursday, November 2, as the record date to determine eligible shareholders for receiving the interim dividend. Shareholders meeting these criteria will receive ₹12 per share on Tuesday, November 21.

Stock Decline Reflects Investor Sentiment

Before the release of the Q2FY24 results, Tech Mahindra‘s stock experienced a decrease in value. On the BSE, the stock was down by 1.27% at ₹1,140.50 per share at the closing bell, and on the NSE, it fell by 1.39% to ₹1,139.90 per share. This likely mirrors investor expectations influenced by current market conditions.

Also Check: Wipro Q2 Results


CurrencyVeda provides this news article for informational purposes only. We do not offer investment advice or recommendations. Before making any investment decisions, please conduct thorough research, consult with financial experts, and carefully consider your financial situation, risk tolerance, and investment goals. Investing in the stock market carries risks, and it’s essential to make informed choices based on your individual circumstances. CurrencyVeda is not liable for any actions taken based on the information provided in this article.

Leave a Reply

Your email address will not be published. Required fields are marked *