Tata Technologies Declares First Dividend Since Listing

Tata Technologies Ltd. has announced a final dividend of Rs 8.40 per equity share for fiscal 2024 and a special dividend of Rs 1.65 per share, which will be paid after approval from shareholders at the ensuing annual general meeting. The company announced distribution of Rs 407 crore to unitholders in the fourth quarter of fiscal 2024.

The dividend will be paid or dispatched on or after the third day from conclusion of the AGM, the company announced through an exchange filing on Friday.

This is the first dividend announced by the company since listing.

In the fourth quarter, the tech company reported a net profit of Rs 157 crore and a revenue decline of 1% at Rs 1,301 crore.

• Revenue down 1% to Rs 1,301 crore (Estimate: Rs 1,287.4 crore).

• EBIT up 0.8% to Rs 211 crore (Estimate: Rs 213.4 crore).

• EBIT margin unchanged at 16.2% (Estimate: 16.58%).

• Net profit down 7.6% at Rs 157 crore (Estimate: Rs 177.3 crore).