Tata Consultancy Services (TCS) on Monday beat estimates and announced 5.42 per cent quarter-on-quarter (qoq) rise in its consolidated net profit figures at Rs 6,413 cr for the quarter ending March 2016.
Tata Consultancy Services (TCS) on Monday beat estimates and announced 5.42 per cent quarter-on-quarter (qoq) rise in its consolidated net profit figures at Rs 6,413 cr for the quarter ending March 2016. The company registered net profit of Rs 6,083.39 crore in the sequential quarter ended December 2015 and Rs 3712.67 crore in the same quarter last year.
The IT major also announced a final dividend of Rs 27 per equity share, or 2,700 per cent, on face value of Rs 1 for the financial year ended March 31, 2016. The dividend will be paid on the seventh day from the conclusion of the Annual General Meeting (AGM). The total dividend for the year 2015-16 is Rs 43.5 per share (4350 per cent), which includes proposed Rs 27 final dividend.
Revenue of TCS jumped by 3.96 per cent qoq to Rs 28,448.61 crore. Topline of TCS stood at Rs 27,364.01 crore in the sequential quarter ended December 2015.
TCS results come in the wake of Wisconsin federal jury last week slapping a $940 million penalty on the company, including $700 million in punitive damages for allegedly stealing healthcare software from an American company, Epic Systems.
For the quarter under review, the company reported total expenditure of Rs 21,068.54 crore, up 4.64 per cent qoq, against Rs 20133.88 crore during October-December 2015. Total Expenditure was at Rs 20409.14 crore in the same quarter last year.
In the financial year ended March 2016, bottomline of the company stood at Rs 24,291.82 crore, up 22.36 per cent, against Rs 19,852.18 crore a year ago.
N Chandrasekaran, managing director and CEO said, “Our core portfolio performed strongly in Q4, driven by strong volumes led by growth in BFSI, retail & manufacturing sectors”.
In FY16, the company saw an all time high gross addition of 90,182 employees with a net addition of 34187 employees. In Q4 itself, there was a gross addition of 22576 employees and net addition of 9152 employees.
The company witnessed an attrition rate of 14.7 per cent during the year for IT services, while the overall attrition rate stood at 15.5 per cent.
The FY16 digital revenue grew by 52.2 per cent.
Share price of the company on Monday ended 0.03 per cent down at Rs 2522.40.