TCS Q4 results: Profit inches lower to Rs 8,049 crore, misses estimates; firm announces Rs 6 dividend

https://economictimes.indiatimes.com/markets/stocks/earnings/tcs-q4-results-profit-inches-lower-to-rs-8049-crore-misses-estimates-firm-announces-rs-6-dividend/articleshow/75183764.cms

Tata Consultancy Services, India’s biggest IT company, on Thursday reported 0.94 per cent year-on-year (YoY) fall in profit (attributable to shareholders) at Rs 8,049 crore for the fourth quarter ended March 31. Analysts in an ET NOW poll had projected the figure at Rs 8,216 crore.

The board of the company also recommended a final dividend of Rs 6.

Consolidated revenue of the company increased 5 per cent on a yearly basis to Rs 39,946 crore.

Commenting on the TCS’ Q4 performance, CEO and MD Rajesh Gopinathan, said: “The pandemic completely reversed the positive momentum that we had started seeing in some of our biggest verticals in the first half of the quarter. On the positive side, we had very strong deal closures during the quarter. In fact, our order book this quarter is the largest ever, from the time we started reporting the metric. Organisations across the world are realising the need for operational and systems resilience.”

In constant currency terms, revenue grew 3 per cent year on year, with operating margin expanding to 25.10 per cent.

TCS Q4 table

As of March 31, TCS applied for 5,216 patents, including 210 applied during the quarter, and has been granted 1,341 patents.

TCS hired 24,179 employees on a net basis in 2020, taking up the total headcount to 4,48,464 as of March 31. The workforce comprised of 144 nationalities and with women making up 36.2 per cent of the workforce.

For the full financial year ended March 31, the company posted 2.75 per cent growth in net income at Rs 32,340 crore.

Earlier in the day, shares of the company settled 1.09 per cent down at Rs 1,715 on BSE ahead of its earnings announcement. BSE benchmark Sensex ended 222.80 points, or 0.73 per cent, higher at 30,602.

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