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TCS Q4 net profit rises 4.5%, beats estimates

April 19, 2018 21:51·
TCS Q4 net profit rises 4.5%, beats estimates

TCS Q4 net profit rises 4.5%, beats estimates

Strong growth across key geographies and continued momentum in digital technologies drove Tata Consultancy Services' fourth quarter consolidated net profit up 4.5 per cent at Rs 6,904 crore, from Rs 6,608 a year ago.

Board approved bonus of 1 share for every share held, and a final dividend of Rs 29/share.

The company had reported a net profit of Rs 6,608 crore in the same period last fiscal, TCS said in a regulatory filing. The revenue for the December quarter was Rs 30,904 crore.

Analysts on average had expected the Mumbai-based company to report a profit of 67.98 billion rupees, according to Thomson Reuters data.

TCS's strong results echoed those of smaller rival Infosys, which kicked off the earnings season last week with a higher profit and a healthy revenue forecast for the year even as its margin forecast failed to impress.

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The revenue growth in constant currency terms was at 2 percent.

Strong deal wins and a good pipeline positions TCS very well in the new fiscal, said Chief Operating Officer and Executive Director N Ganapathy Subramaniam. Growth was led by the energy & utilities vertical (+33.7 percent), travel & hospitality (+25.4 percent) and life sciences & healthcare (+12.6 percent). "The management is sounding incrementally more hopeful on financial services: in Q4 FY18, BFSI remained muted with 0.4% QoQ growth (2.9% YoY) and so did North America with 0.2% QoQ (4.9% YoY)".

Significantly, TCS added $1.51 billion in incremental revenue in 2017-18, about twice the $731 million in new business done by Infosys Ltd, the country's second largest IT outsourcing firm.

The company's blue chip scrip of Re 1 face value gained Rs 31.15 to end at Rs 3,190.65 per share on the BSE on Thursday from Wednesday's closing price of Rs3,159.50 and opening price of Rs 3,175.

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