TCS Results Q4 2024: Tata Consultancy Services on Friday reported a 9.1 per cent growth in its March quarter net profit at Rs 12,434 crore. In the fiscal year 2023-24, the company’s net profit grew 9 per cent to Rs 45,908 crore, as per an exchange filing.
The Tata Group company’s post-tax profit during the January-March period last year stood at Rs 11,392 crore.
In the March quarter, its revenue grew 3.5 per cent to Rs 61,237 crore year on year.
Its operating profit margin expanded by 1.50 per cent to 26 per cent.
TCS scrip closed 0.45 per cent higher at Rs 4,000.30 apiece on the BSE on Friday as against a 1.06 per cent correction in the benchmark.
Earlier, analysts were anticipating a favourable order book overall.
Analysts, relying on an average of 10 brokerage estimates, had anticipated a profit of Rs 11,902 crore on revenue of Rs 61,414 crore.
The board also considered a final dividend proposal for the fiscal year.
The IT services company declared a final dividend of Rs 28 per share for the financial year 2023-24. Along with Rs 45 per share dividend announced earlier, the total TCS dividend for FY24 stood at Rs 73 per share.
Although the IT services giant hasn’t disclosed any significant deals in the first quarter of January-March, it successfully secured a series of multi-year, multi-million-dollar contracts from Aviva, Ramboll, and the Central Bank in the US.
It’s been a remarkable year for TCS. Amidst a challenging business landscape marked by delayed deal closures, ongoing macroeconomic hurdles, and inflationary pressures, TCS navigated significant changes. These included appointing a new CEO, implementing structural transformations, expanding into new sectors such as cloud and AI, and prioritising AI in identity solutions.
TCS’ plans for hiring in FY25 will be watched by investors. Though in FY24 there were delays in campus hiring, the company has already announced fresher hiring tests for FY25.
The Tata group company’s Q4 revenue growth would be aided by sustained winning of deal, ramp-up of large deals, including BSNL, and recovery in manufacturing and BFSI verticals.
TCS Q3 2024 Earnings
In January, the IT major posted a growth of 8.2 per cent year-on-year in its net profit to Rs 11,735 crore for the third quarter ended December 2023 (Q3 FY24).
Its revenue during October-December 2023 rose 4 per cent year-on-year to Rs 60,583 crore driven by strong double-digit growth in emerging markets, led by India..
TCS recorded a 1.7 per cent growth YoY in constant currency terms. Its operating margin stood at 25 per cent.
Comments
0 comment