TCS Q4 results up 4.4%

Tata Consultancy Services (TCS), India’s top IT outsourcing firm, on Thursday reported a 4.4 per cent growth in its consolidated net profit at `6,904 crore for the quarter, helped by large deal wins. 

CHENNAI : Tata Consultancy Services (TCS), India’s top IT outsourcing firm, on Thursday reported a 4.4 per cent growth in its consolidated net profit at `6,904 crore for the quarter, helped by large deal wins. 
The company had reported a net profit of `6,808 crore in the same period last fiscal, TCS said in a regulatory filing. Besides, the Board has approved a bonus of one share for every share held, and a final dividend of `29 per share.

The Tata group company, which accounts for more than 60 per cent of the group’s overall profit, reported a revenue growth of 8.2 per cent at `32,075 crore, up from `29,642 crore a year earlier. Digital revenue grew 42.8 per cent year-on-year (YoY) to 23.8 per cent.“Strong demand in digital across all industry verticals and large transformational deal wins have made this one of our best fourth quarters in recent years. The strong exit allows us to start the new fiscal on a confident note,” TCS CEO and MD Rajesh Gopinathan said.

The software major said that all industry verticals — with the exception of BFSI — grew above the company average, with three verticals growing in double digits. Growth was led by the energy and utilities vertical (up 33.7 per cent), travel and hospitality (25.4 per cent) and life sciences and healthcare (12.6 per cent). 

“Six of our industry verticals grew above the company overage in FY18, four of them growing in double digits,” said Ganapathy Subramaniam, COO and Executive Director. For the full year, TCS’s net profit for FY18 dipped 1.7 per cent to `25,826 crore, while revenue rose 4.3 per cent to `1.23 lakh crore. 

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