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Updated: 4 hours 53 min ago
BSF jawan detained by Pakistan Rangers
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Tech Mahindra Q4 Results: Profit jumps 76% YoY to Rs 1,167 crore, revenue up 4%; Rs 30 per share dividend declared
IT services company Tech Mahindra posted 76% YoY growth in its consolidated net profit at Rs 1,167 crore in the fourth quarter, while revenue from operations increased 4% year-on-year (YoY) to Rs 13,384 crore.The company's Board has also recommended a final dividend of Rs 30 per share for the financial year ended March 2025.On a sequential basis, profit surged 19% and revenues rose by a marginal 1%.120585890EBIT during the fourth quarter increased 48% YoY to Rs 1405 crore. The same was up 4% quarter-on-quarter (QoQ).In constant currency (CC) terms, revenue grew 0.3% YoY, but fell 1.5% QoQ. The dollar revenue for the company stood at $1.5 billion, which was flat YoY."This year, we laid a strong foundation for our transformation journey. Through strategic investments in our people, leadership, and capabilities, we have positioned ourselves to accelerate our strategic roadmap," said Mohit Joshi, CEO and MD, Tech Mahindra.The company secured deal wins of $2.7 billion, reflecting a 42% YoY increase. "This is a clear validation of the depth of our client partnerships," Tech Mahindra said.For the full year, consolidated PAT soared 80% YoY to Rs 4,252 crore, while revenues were up 2% YoY to Rs 54,988 crore. EBIT for FY25 grew 63% YoY to Rs 5,138 crore.Total headcount at the end of FY25 stood at 148,731, down 1,757 employees when compared with the preceding December quarter. LTM IT attrition came in at 11.8%.The company had cash and cash equivalent of Rs 7,656 crore at the end of March quarter."We delivered operational excellence by achieving a 60% increase in operating profit through strong execution, operational leverage, and cost management. We raised our dividend per share by 12.5% and returned 85% of our free cash flow to shareholders, reflecting our commitment to capital allocation policy," said Rohit Anand, CTO, Tech Mahindra.On Thursday, Tech Mahindra shares closed 0.5% higher at Rs 1,446 on NSE.
Categories: Business News
Pak suspends Simla Agreement, shuts border
Pakistan on Thursday suspended the 1972 Simla Agreement, blocked its airspace for Indian airlines, closed the Wagah border crossing, paused all trade with India, and said any attempt to divert water meant for Pakistan under the Indus Water Treaty will be considered an Act of War.The announcements were made after a meeting chaired by Prime Minister Shehbaz Sharif to formulate the country's response to India's move to suspend the Indus Water Treaty and downgrade diplomatic ties after the Pahalgam terror attack.“Pakistan shall exercise the right to hold all bilateral agreements with India, including but not limited to Simla Agreement in abeyance, till India desists from its manifested behaviour of fomenting terrorism inside Pakistan; trans-national killings, and non-adherence to international law and UN Resolutions on Kashmir,” the Pakistan PMO statement said.ALSO READ: Pakistan Ministers call India's suspension of Indus Waters Treaty 'cowardly', 'immature' & 'inappropriate'“Pakistan shall close down the Wagah Border Post, with immediate effect. All cross-border transit from India through this route shall be suspended, without exception,” the NSC decided, giving an April 30 deadline to those who crossed with “valid endorsements” to return through that route.India's downgraded its ties with Pakistan India on Wednesday downgraded diplomatic ties with Pakistan and announced a raft of measures including expulsion of Pakistani military attaches, suspension of the over six-decade-old Indus Water Treaty and immediate shutting down of the Attari land-transit post in view of the cross-border links to the Pahalgam terror attack. A day after the brazen attack that killed 26 civilians, the Cabinet Committee on Security (CCS), under the chairmanship of Prime Minister Narendra Modi, firmed up New Delhi's retaliatory measures, directed the security forces to maintain "high vigil" and resolved to bring the perpetrators of the crime to justice.ALSO READ: India pulls the plug on Indus Waters Treaty: What it means and how it can hit Pakistan where it hurts mostAt a late evening media briefing, Foreign Secretary Vikram Misri announced the decisions said the overall strength of the Pakistani and Indian high commissions will be brought down to 30 from the present 55 through further reductions, to be effected by May 1.Misri said the cross-border linkages to the Pahalgam attack was "brought out" in a briefing to the CCS following which it decided to take the measures against Pakistan.The new retaliatory actions shut down the few existing diplomatic mechanisms between the two sides taking bilateral relations to yet another new low.ALSO READ: Pakistan suspends the 1972 Simla Agreement that upholds LOC sanctity: What it is and who will be impactedThe foreign secretary, announcing the five retaliatory measures, said "the defence, military, naval and air advisors in the Pakistani High Commission in New Delhi are declared Persona Non Grata" and they have a week to leave India.India will be withdrawing its own defence, navy and air advisors from the Indian High Commission in Islamabad, he said."These posts in the respective High Commissions are deemed annulled. Five support staff of the Service Advisors will also be withdrawn from both High Commissions," he said.Pakistani nationals will not be permitted to travel to India under the SAARC Visa Exemption Scheme (SVES) and any such visas issued in the past to Pakistani nationals are deemed cancelled, Misri said.The CCS was briefed in detail on the attack, in which 25 Indians and a Nepali citizen were killed, said the foreign secretary who attended the meeting along with External Affairs Minister S Jaishankar, Defence Minister Rajnath Singh, Home Minister Amit Shah and NSA Ajit Doval.Misri said the CCS resolved that the perpetrators of the Pahalgam attack will be brought to justice and their sponsors held to account.
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Rupee gains on exporters' dollar sales
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Microsoft's big deadline for employees
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Why Musk faced heat over DOGE, Tesla
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