Tata Tech shares plunge 5% on subdued Q4 earnings
However, JM Financial sees more growth engines now for Tata Tech than a few years ago, largely backed by its diverse portfolio
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However, JM Financial sees more growth engines now for Tata Tech than a few years ago, largely backed by its diverse portfolio
Tata Tech Share Price: Tata Tech reported its quarterly earnings for the second time on 3rd May wherein their net profit stood at Rs 157.24 crore for the quarter ended March 2024, which was down 27% on a year-on-year basis while the consolidated revenue from operations for the reported quarter stood at Rs 1,301.05 crore, lower by 7.22% YoY.
Following the fourth-quarter results, JPMorgan upgraded Kotak Mahindra Bank and Avenue Supermarts. It maintains a neutral rating on Britannia Industries and an underweight rating on Tata Technologies.
Paytm parent One97 Communications' president and chief operating officer Bhavesh Gupta resigned from the company.
Tata Technologies reported a 27.39 per cent year-on-year (YoY) fall in the consolidated net profit at Rs 157.24 crore for the quarter that ended on March 31, 2024.