MUMBAI: India’s largest information technology company Tata Consultancy Services (TCS) today reported a 14.9 per cent year-on-year growth in consolidated net profit at Rs. 9,246 crore for the quarter ended March. The company reported a 9.4 per cent on-year rise in consolidated revenues at Rs. 43,705 crore.
Analysts polled by ETMarkets.com had expected the company to report a topline of Rs 43,574.7 crore and a bottomline of Rs 9,305.9 crore.
In constant currency terms, the company’s revenues grew 4.2 per cent on a quarter-on-quarter basis in the March quarter.
The company’s earnings have benefitted from the surge in demand for digital services such as migration to cloud over the past 12 months triggered by the Covid-19 pandemic.
The city-based company reported consolidated operating margins of 26.8 per cent, up 2 basis points from the previous quarter and 170 bps from the year-ago quarter.
TCS also declared a final dividend of Rs 15 per share.
“It is gratifying to bring down the curtains on FY21 with a solid performance on revenue, margins and deal momentum,” said Chief Operating Officer N Ganapathy Subramaniam in a BSE filing. The company managed to secure deal wins worth $9.2 billion, the highest ever quarterly deal wins in its history.
For the financial year ended March, the company’s consolidated revenues grew 4.6 per cent to Rs. 1.6 lakh crore and bottomline came in at Rs 33,388 crore.
In the March quarter, the growth was led by regions like Europe, North America, India and the UK. In terms of verticals, the banking, financial services and insurance segment led the growth with 7 per cent sequential rise followed by retail and healthcare.
Shares of the IT behemoth ended 2.7 per cent lower at Rs 3,250 on the National Stock Exchange.
