Rama Krishna Sangem
TCS leads India’s IT sector’s robust health. IT major Tata Consultancy Services (TCS) on April 12, Friday posted a consolidated net profit of Rs 12,434 crore in the January-March quarter, a rise of over 9 per cent from Rs 11,392 crore a year ago. Sequentially, the net profit was up 12.44 per cent. In Q3FY24, the net profit of the company was Rs 11,058 crore. TCS announced an interim dividend of Rs 28 per share.
TCS consolidated revenue from operations for Q4FY24 came in at Rs 61,237 crore, compared to Rs 59,162 crore year-on-year (YoY). This is a rise of 3.50 per cent. On a quarter-on-quarter (QoQ) basis, the revenue for operations was down up 1.07 per cent. It was Rs 60,583 crore in Q3FY24.
Broad based deals
Ganapathy Subramaniam, chief operating officer (COO) and executive director, said: “Our Q4 performance is robust, with broad based deal wins across industries and geographies. Our products and platforms business sparkled with the mega deal win at Aviva and emerging markets had another stellar growth quarter demonstrating the power of TCS’ diversified portfolio.”
The company, in its press release, said that the workforce stood at 601,546, as on March 31. The employee base is very diverse, with 35.6 per cent women, and with 152 nationalities.
Samir Seksaria, chief financial officer, said, “In FY2024, our disciplined approach to operations have helped us expand our industry-leading margins. In a challenging environment, we persisted with our long-term investments in workforce reskilling, research and innovation. We will continue to drive efficiencies and competitiveness to capture opportunities for growth with profitability.”
On Friday, the TCS shares closed at Rs 4,003.80. This shows the country’s IT industry is gong strong and sturdy, in spite of global uncertainties and geographical turbulances.
