TCS Q4 net profit rises 9 pc to Rs 12,434 crore on better margin, strong India business

Tata Consultancy Services (TCS) on Friday reported a 9 percent growth in net profit at Rs 12,434 crore in the January-March quarter of FY24, helped by improved margins and strong performance of its India business.

The largest software services exporter had reported a post-tax profit of Rs 11,392 crore in the same period of the preceding fiscal.

In the entire FY24, the company's net profit surged 9 percent to Rs 45,908 crore, while the revenue rose to Rs 2,40,893 crore from Rs 2,25,458 crore registered in FY23.

In the reporting quarter, the company was able to expand its operating margin by 1.50 percent to 26 percent, which boosted the profit.

Revenue also increased by 3.5 percent to Rs 61,237 crore during the reporting quarter from Rs 60,583 crore in the corresponding quarter a year ago.

In the fourth quarter of FY24, the company bagged new orders worth USD 13.2 billion, the highest ever in a quarter.

Profit margin and order book validate the robustness of the business model and execution excellence, chief executive and managing director K Krithivasan said in a statement.

''In an environment of global macro uncertainty, we are staying close to our customers and helping them execute on their core priorities with TCS' portfolio of offerings, innovation capabilities and thought leadership,'' he said.

Amid expectations of a ramp-up in the over Rs 15,000-crore deal with BSNL, the company's revenue from India business grew 38 percent, taking the home country's contribution to the topline to 6.7 percent in March 2024 from 5 percent in the year-ago period.

Its largest market of North America witnessed a 2.3 percent decline in revenue during the quarter. The contribution of this market in the company's topline fell to 50 percent from 52.4 percent in the year-ago period.

The company also reported a dip in its staff strength by close to 2,000 people during the reporting quarter. Its overall workforce stood at 6,01,546 as of March 31, 2024.

The attrition in IT services dropped to 12.5 percent from 13.3 percent in the quarter-ago period.

TCS scrip closed 0.45 percent higher at Rs 4,000.30 apiece on the BSE on Friday as against a 1.06 percent correction in the benchmark index.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)