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TCS reports over 17 pc increase in profit during Q4 FY 19

ANI | April 12, 2019 05:59 PM
TCS is India’s largest IT company.

Mumbai (Maharashtra) [India]: Tata Consultancy Services (TCS) on Friday reported a net income of Rs 8,126 crore in the quarter ended March 2019, marking a year-on-year (Y-0-Y) growth of 17.7 per cent.

India's largest IT company had reported Rs 6,904 crore profit in the same quarter a year ago.

Net sales for the fourth quarter 2018-19 climbed by 18.5 per cent to Rs 38,010 crore from Rs 32,075 crore last year.

"This is the strongest revenue growth that we have had in the last 15 quarters," said Managing Director and Chief Executive Officer Rajesh Gopinathan.

"Our order book is bigger than that in the prior three quarters, and the deal pipeline is also robust. Despite macro uncertainties ahead, our strong exit positions us very well for the new financial year," he said.

TCS said its operating profit margin came in at 25.1 per cent, down 31 basis points on a year-on-year basis.

The company's annual revenue during 2018-19 stands at Rs 1.46 lakh crore, up 19 per cent from the previous year, while the net income totals Rs 31,472 crore which is up nearly 22 per cent.

Chief Financial Officer V Ramakrishnan said double-digit growth, higher quality of the incremental business and best-in-class execution capabilities have helped the company expand its operating margin.

"Our foresight in investing very early on in building digital skills and transformational capabilities has not only gained us market share, but has also resulted in our very resilient, industry-leading margin today," he said.

Among industries, revenue growth continued to accelerate in life sciences and healthcare (18.2 per cent), BFSI (11.6 per cent), energy and utilities (11.3 per cent), communications and media (10 per cent), retail and consumer packaged goods (9.9 per cent) and manufacturing (9.2 per cent).

The company added 6,356 employees on a net basis during the quarter.

(ANI)

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