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Tata Tech share price plunge 5% on muted Q4 results: Details
Tata Tech share price: Tata Tech's net profit for the March quarter decline around 8 per cent on a sequential basis to ₹157 crore.
Tata Tech share price: Shares of Tata Technologies fell 5 percent today (May 6) after the company posted weak results for the January-March quarter. The shares were trading at ₹1,047.75 apiece on the NSE at 11.15am.
Tata Tech Q4 results
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Tata Tech's net profit for the March quarter decline around 8 per cent on a sequential basis to ₹157 crore against ₹170 crore a quarter ago. Revenue grew less than 1 per cent at ₹1,301 crore in Q4FY24 as against ₹1,289.5 crore in Q3FY24.
JM Financial on Tata Tech
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Brokerage JM Financial said Tata Tech's management indicated that some residual draw-down in the Vinfast account will continue in Q1FY25 as well. JM Financial cut its constant currency revenue growth estimates for Tata Tech's services segment to 11 per cent-15 per cent for FY25-26. It said, “Reduction in FY25E growth is explained by Vinfast’s residual decline in Q1 and a slightly weaker exit than earlier expected. We have also lowered our FY25/26 margin assumptions by 60 basis points each to factor in a flattish outlook by the management.”
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It said that there could be more growth engines now for Tata Tech than a few years ago owing to its diverse portfolio.
