Analyzing Tata Tech’s 5% Stock Decline Amid Q4 Results: Is Now the Ideal Time to Invest? (TT)
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- Tata Technologies share price fell by 5% following the company’s Q4 results, which showed a decline in consolidated net profit compared to the same period last year.
- The company’s consolidated revenue from operations also decreased by 7.22% YoY.
- Despite these results, Tata Tech’s CEO, Warren Harris, highlighted the company’s growth in operating revenue and EBITDA over the past three years.
Tata Technologies’ share price takes a hit after Q4 results, but the company remains optimistic about future growth. This article delves into the details of the financial report and what it means for investors.
Details of Tata Technologies’ Q4 Results
Tata Technologies reported a consolidated net profit of ₹157.24 crore for the quarter ending March 31, 2024. This represents a 27% decline from the ₹216.56 crore reported in the same period last year. The company’s share price opened at ₹1,044.95 on the BSE, and touched an intraday low of ₹1,032.95 and an intraday high of ₹1,055.05. The profit after tax (PAT) also showed an almost 8% quarterly decline compared to the ₹170.22 crore recorded in Q3FY24.
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