India's largest IT services exporter TCS has reported quarterly results beating street estimates, as net profit came in 4.46% higher on year to Rs 6,904 crore.
India’s largest IT services exporter TCS has reported quarterly results beating street estimates, as net profit came in 4.46% higher on year to Rs 6,904 crore. Notably, the IT behemoth’s results come closing on the heels of rival Infosys, whose latest quarterly results had met the street’s estimates. TCS has reported are seen to be better than analyst expectations, as a Reuters poll earlier had expected consolidated PAT of Rs 6,811 crore, in a quarter wherein overall revenue momentum was affected due to slow decision-making among its top BFS clients. However, the IT behemoth was also seen to benefit from massive deal wins of nearly $7 billion recently, including Marks & Spencer, and life insurance provider Transamerica. We take a closer look at TCS results, and bring to you 7 key figures in a nutshell.
1) Net Profit came in at Rs 6,904 crore vs Rs 6,608 crore, a rise of 4.5% on year.
2) TCS clocked total revenues of Rs 32,075 crore as against Rs 29,642 crore in the same period in the previous year, implying 8.2% rise on year. Digital Revenue came in at 23.8%, up 42.8% on year.
3) Operating income cane in at Rs 8,147 crore, while operating margin stood at 25.4% as compared to 25.7% in the previous financial year, for the January-March period.
4) Notably, the company’s attrition continues to trend down; at 11% which is lowest in the lowest in the industry.
5) In the year, TCS has returned Rs 26,800 crore of cash to shareholders in dividends and buyback.
6) The company has reported healthy client revenue metrics, with Clients in $100 million band increased by 3; Clients in $50 million band increased by 13.
7) Lastly, the company has achieved its highest ever cash conversion, with operating cash flow 122% of net profit.