New Delhi | Jagran Business Desk: India’s largest consultancy firm, Tata Consultancy Services on Monday reported a 7.4% rise in March-quarter profit and opened the fourth-quarter earnings season with a stellar set of numbers, crossing the Rs 50,000 crore revenue mark for the first time and earning a net income of Rs 9,926 crore, registering a growth of 7.4 percent year-on-year.
Its annual profit jumped 14.8 percent to Rs 38,327 crore. Mumbai-based TCS reported a net profit of 99.26 billionrupees ($1.31 billion) for the three months to March 31, up from 92.46 billion rupees a year earlier.
Read More:-Retail inflation rises to 6.95 pc in March, IIP grows 1.7 pc in February: Govt data
The company said its revenue jumped 15.8 percent to Rs 50,591 crore in the reporting quarter on an annualized basis.
“Increasing participation in our customers’ growth and transformation journeys, and an all-time high order book provide a strong and sustainable foundation for continued growth ahead,”TCS’ Chief Executive Officer Rajesh Gopinathan said in a statement.
“Further, we would like to inform you that at the Board Meeting held today, the Directors have recommended a Final Dividend of ₹ 22 per Equity Share of ₹ 1 each of the Company which shall be paid/dispatched on the fourth day from the conclusion of the 27th Annual General Meeting, subject to approval of the shareholders of the Company,” said TCS.
Read More:-Stock Market April 13: Sensex jumps nearly 350 points, Nifty trades above 17,500
The net profit would have crossed the five-digits-mark for the first time, had it not been for a trimmed margin that slipped by 1.89 per cent to 25 per cent, the company said. On a sequential basis, the revenue grew 3.2 per cent in constant currency terms.
TCS closed fiscal 2022 with a bang, crossing for the first time USD 25 billion annual revenue of Rs 1,91,754 crore, up 16.8 per cent, driven by the highest-ever incremental revenue of USD 3.533 billion and an all-time high order book.
TCS posted its highest-ever order book total contract value of $11.3 billion in the quarter, the company said.
