TATA CONSULTANCY SERVICES,India’s second-largest listed company by market capitalisation, on April 12, has reported a 6.3 percent sequential growth in March quarter consolidated profit at Rs 9,246 crore, driven by better-than-expected growth in revenue and operating income.Consolidated revenue during the quarter grew by 4 percent to Rs 43,705 crore compared to the previous quarter backed by ramp-up of large deals, cross-currency tailwind and recovery in demand.The revenue in dollar terms grew by 5 percent sequentially to $5,989 million in the quarter ended March 2021, against 5.1 percent growth seen in previous quarter, beating CNBC-TV18 poll estimates which was pegged at 4.8 percent for Q4.Revenue growth at 4.2 percent QoQ in constant currency for the March quarter was ahead of CNBC-TV18 poll estimates which was pegged at 4 percent. The constant currency revenue growth was 4.1 percent in Q3FY21.”The investments over the last decade in building newer capabilities, and in research and innovation, position us well for the multi-year technology services opportunity ahead. While we continue to dominate in our traditional areas of strength, we are making good progress in gaining share in the growth and transformation opportunity,” Rajesh Gopinathan, Chief Executive Officer and Managing Director said.”The focus going into FY22 will be to engage with clients in their growth agenda, propelled by innovation and leverage of collective knowledge,” he added.TCS’ order book at $9.2 billion in Q4FY21 was the highest ever total contract value (TCV) in a quarter, taking the total yearly order book at $31.6 billion, a 17.1 percent growth compared to previous financial year. Its TCV in Q3FY21 was at $6.8 billion.TCS shares climbed 11 percent during the March quarter, outshining the Nifty IT index that grew by 6.6 percent in the same period. The stock gained 74 percent in the financial year 2020-21, underperforming the IT index that registered a massive 102 percent gains in the year.
Friday, January 27, 2023