Tata Consultancy Services (TCS), India’s largest software services firm, on Friday reported a 17.7 per cent growth in consolidated net profit at Rs 8,126 crore for the March 2019 quarter as against a net profit of Rs 6,904 crore in the year-ago period.
The company, which is also the second most valued listed company, reported an 18.5 per cent rise in revenue for the quarter under review to Rs 38,010 crore from Rs 32,075 crore in the corresponding period last fiscal. For the full year (2018-19), net profit was higher by 21.9 per cent at Rs 31,472 crore, while revenue increased 19 per cent to Rs 1,46,463 crore.
In dollar terms, revenue crossed $ 20 billion mark to $ 20.9 billion for the fiscal 2019.
Rajesh Gopinathan, Chief Executive Officer and MD, said: “this is the strongest revenue growth that we have had in the last 15 quarters. Our order book is bigger than 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 fiscal.” “Our full spectrum digital transformation capabilities and thought leadership is what is driving the strong demand for our services, and making us the preferred innovation and transformation partner to our customers. Our Business 4.0 framework has now become the de facto model for enterprises looking to embrace new technology-enabled business models, pursue new revenue streams or deliver superior customer experiences,” Gopinathan said. Revenue growth continued to accelerate in BFSI, crossing over into double digits (11.6 per cent as against 8.6 per cent growth in Q3). Growth was broad-based with most verticals showing strong growth: Life sciences and healthcare (18.2 per cent growth), energy & utilities (11.3 per cent growth), communications & media (10 per cent growth), retail & CPG (9.9 per cent growth) and manufacturing (9.2 per cent).
N Ganapathy Subramaniam, COO & Executive Director, said: “it is a very satisfying finish to a year marked by steady growth acceleration and order book expansion every quarter…”