Monday, April 12, 2021

TCS Q4 profit jumps 14.9% to Rs 9,246 cr

 

The country's largest software services firm, Tata Consultancy Services (TCS) on Monday reported a 14.9 per cent rise in consolidated net profit to Rs 9,246 crore for the March 2021 quarter.

Photograph: Courtesy, TCS.

This is against a net profit of Rs 8,049 crore in the year-ago period, TCS said in a regulatory filing.

The revenue of the IT major grew 9.4 per cent in the quarter under review to Rs 43,705 crore from Rs 39,946 crore a year ago, it added.

"Our investments over the last decade in building newer capabilities, and in research and innovation, position us well for the multi-year technology services opportunity ahead. While we continue to dominate in our traditional areas of strength, we are making good progress in gaining share in the growth and transformation opportunity," TCS Chief Executive Officer and Managing Director Rajesh Gopinathan said.

The firm's focus going into FY22 will be to engage with clients in their growth agenda, propelled by innovation and leverage of collective knowledge, he added.

The net profit for the fiscal ended March 2021 was up at Rs 33,388 crore (excluding legal claim provisions), from Rs 32,340 crore in the previous financial year.

Its net profit on a reported basis stood at Rs 32,430 crore for FY21.

TCS had provided Rs 1,218 crore (USD 165 million) towards a legal case (relating to Epic Systems Corporation) in its consolidated statement of profit and loss for the year ended March 31, 2021.

The board of directors has proposed a final dividend of Rs 15 per equity share.

 

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