Tata Technologies shares listless after Q3 results

Tata Technologies Q3 results: Tata Technologies shares traded on a muted note on Monday, January 29, after the subsidiary of the Tata Group reported a 6.1 per cent increase in its consolidated net profit, or profit after tax (PAT), at Rs 170.22 crore for the quarter ended December 31, 2023.

Tata Technologies share price NSE: Tata Technologies shares traded on a muted note on Monday, January 29. Image: Official website

Tata Technologies share price NSE, Tata Technologies Q3 results: Tata Technologies shares traded on a muted note on Monday, January 29, after the subsidiary of the Tata Group reported a 6.1 per cent increase in its consolidated net profit, or profit after tax (PAT), at Rs 170.22 crore for the quarter ended December 31, 2023. The stock rose as much as 1.7 per cent to Rs 1,163.45 on the BSE in the morning deals.

The company, which is a global product engineering and digital services company, reported a profit of Rs 160.38 crore in the year-ago period. On a year-on-year (YoY) basis, the profit grew 14.7 per cent.

Revenue from operations came in at Rs 1,289.45 crore, up 1.59 per cent against Rs 1,269.17 crore in the previous quarter. In the year-ago period, the figure stood at Rs 1,123.89 crore.

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Basic earnings per share (EPS) for the quarter stood at Rs 4.20 against Rs 3.95 in the September quarter.

Operating EBITDA came in at Rs 236.6 crore, while the operating EBITDA margin was 18.3 per cent, a 140-basis-point increase on a QoQ basis, driven by improved 'Services' gross margins, the company said in its earnings release.

In US dollar terms, total operating revenue was up 0.9 per cent QoQ and up 13.4 per cent YoY to $154.8 million. Services segment revenue was up 8.3 per cent YoY to $120.2 million. Read more

Tata Tech IPO

Tata Technologies made a stellar debut on November 30, with a 140 per cent premium over the issue price of Rs 500.

The scrip of Tata Technologies was listed at Rs 1,200 on the NSE and Rs 1,199.95 on the BSE. The Rs 3,042.5 crore public issue of the company was overall subscribed 69.43 times, driven by remarkable participation from institutional buyers.

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