Shares of Tata Technologies Ltd slumped 5% on 6 May after the company announced its quarterly earnings for January-March. 

The company’s net profit for the March quarter decreased by 28% year-on-year to Rs 157.2 crore from Rs 216.5 crore reported in the same quarter last year and 8% quarter-on-quarter from Rs 170 crore a quarter earlier of the same fiscal year. The net profit was affected due to the muted revenue growth and lower other income due to a one-time deferred tax asset write-back. 

Furthermore, revenue from operations stood at Rs 1,301 crore, marking a 7% YoY decline from Rs 1,402.3 crore reported in the same quarter last year and a 1% QoQ increase from Rs 1,289.5 crore reported in Q3FY24. 

Moreover, the quarter saw no changes in operational performance, with Q4’s EBITDA margin coming in at 18.4%.

The Board of Directors of the company have also recommended a final dividend of Rs 8.40 per share, subject to approval at the Annual General Meeting (AGM). 

Savitha Balachandran, Chief Financial Officer of Tata Technologies, 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.”

At 12:10 pm, the shares of Tata Technologies were trading 3.43% lower at Rs 1,049.50 on NSE.