New Delhi: IT services company Tata Consultancy Services (TCS) reported a 14.9 percent increase in net profit for the quarter ended March 2021 as compared to Rs 8,049 crore in the corresponding quarter of the previous year.
The company’s revenue grew by 9.4 percent to Rs 43,705 crore as against 39,946 crore in the same period of the previous fiscal. The company’s constant currency growth came in at 4.2 percent quarter-on-quarter and 5.9 percent year-on-year.
Operating margins were 26.8 percent, 0.2 percent expansion and 1.7 percent year-over-year in the fourth quarter (Q4). The company said the board recommended a final dividend of 15 per equity share. The company said its net addition equaled 19,388 employees, the highest in a quarter.
For the quarter ended December 2020, TCS net profit stood at 8,701 crore quarter while revenue stood at 42,015 crore.
Revenue from its largest vertical i.e. Banking, Financial Services and Insurance (BFSI), stood at Rs.17,559 crore as against 15,207 crore annually. Its Q4 order book is worth 9.2 billion dollars.
Rajesh Gopinathan, Chief Executive Officer and Managing Director, said, “In our investment and research and innovation over the past decade in building new capabilities, we are well positioned for further multi-year technology services opportunity. When we are establishing our dominance in our traditional areas of strength, we are gaining a good share in the opportunities for growth and change. Going into FY22, our focus will be to engage with customers in our development agenda, which will be driven by innovation and leveraging collective knowledge. ”
V Ramakrishnan, Chief Financial Officer, said, “Our Q4 margins are a testament to our strong belief that it is possible to win mega-deals, industry-leading growth, continue to invest in our people and new capabilities.” Every investment we have been making over the years places us strongly to expand our footprint in the opportunity for big growth and change. “
Shares of the IT company fell 2.43 percent to close at 3,241.45 per share on the BSE on Monday.