TCS, India’s largest IT firm by revenue, on Friday, reported on-year profit of Rs 8,126 crore for the March quarter.
TCS, India’s largest IT firm by revenue, on Friday reported a 17.7 per cent growth in consolidated net profit at Rs 8,126 crore for the March 2019 quarter against Rs 6,904 crore in the year-ago period. Revenue surged 18.5 per cent in the quarter under review to Rs 38,010 crore from Rs 32,075 crore in the same period last year, the company said in a BSE filing. The company also announced per share final dividend of Rs 18.
Analysts on CNBCTV18 poll predicted net profit of Rs 7,990 crore and revenue of Rs 37,778 crore for the given quarter. The dollar revenue growth was expected to be $5,369 million, even as margins could be a bit muted at 25.4 per cent.
TCS digital revenue for the quarter-ended March was recorded at 31 per cent of the total sales. For complete year (2018-19), net profit was up by 21.9 per cent at Rs 31,472 crore, while revenue rose 19 per cent to Rs 1,46,463 crore. Net addition of 6,356 employees was also announced by the company.
Commenting on the Q4 performance, Rajesh Goplnathan, Chief Executive Officer and Managing Director, said: “Thls is the strongest revenue growth that we have had in the last fifteen quarters. Our order book is bigger than in the prior three quarters, and the deal pipeline Is also robust. Despite macro uncertainties ahead, our strong exit positions us very well for the new fiscal.”
Brokerage JM Financial had expected TCS’s profit to decline 2.9 per cent QoQ, but revenues may grow 1.8 per cent QoQ in constant currency terms.
Meanwhile, TCS, India’s largest IT firm by revenue, reported a 24.1 per cent rise in on-year profit at Rs 8,105 crore for the December quarter. The company had posted Rs 6,531 crore profit in Q2. The revenue for the same quarter surged 20.80 per cent on-year to Rs 37,338 crore. Revenue in constant currency terms grew 1.8 per cent QoQ and 12.1 per cent on-year.