TCS’ income climbed 6.8% to ₹2,40,893 crore.
| Photo Credit: FRANCIS MASCARENHAS
Tata Consultancy Services Ltd. (TCS) reported fourth-quarter net profit grew 9.1% year-on-year to ₹12,434 crore for the quarter ended March.
Revenue elevated 3.5% to ₹61,237 crore. Operating margin at 26% noticed an enlargement of 150 foundation factors (bps) whereas net margin expanded 100 bps to 20.3%, the corporate stated. Growth was led by India (+37.9%), UK (+6.2%), and Manufacturing (+9.7%). The board proposed a last dividend of ₹28 per share.
For the complete 12 months, net profit rose 10.5% to ₹46,585 crore whereas income climbed 6.8% to ₹2,40,893 crore. The firm introduced a wage hike for its greater than six lakh workers within the vary of 4.5% to 7%. Top performers secured double-digit pay rise. The firm plans to rent about 40,000 freshers in FY25.
Okay Krithivasan, Chief Executive Officer and Managing Director, stated “This has been a quarter of strong deal wins execution for us. New growth markets like India, Latin America, Middle East and Africa contributed to strong growth.”
“We are very pleased to close Q4 and FY24 on a strong note with the highest ever order book and a 26% operating margin, validating the robustness of our business model and execution excellence,” he stated.
“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 added saying North America and Europe de-grew 2.3% and a pair of% respectively reflecting market uncertainties in main markets.
N. Ganapathy Subramaniam, Chief Operating Officer and Executive Director, stated: “Our Q4 performance is robust, with broad based deal wins across industries and geographies. Our products and platforms business sparkled with the mega deal win at Aviva and emerging markets had another stellar growth quarter demonstrating the power of TCS’ diversified portfolio.” It was Mr. Subramaniam’s final press convention as the corporate’s COO as he would retire in May this 12 months.
The firm has determined to distribute his numerous roles among the many prime administration and this the COO put up can be abolished from May onwards.
Samir Seksaria, Chief Financial Officer, stated “In FY 2024, our disciplined approach to operations have helped us expand our industry-leading margins. In a challenging environment, we persisted with our long-term investments in workforce reskilling, research and innovation.”
“We will continue to drive efficiencies and competitiveness to capture opportunities for growth with profitability,” he stated.
Milind Lakkad, Chief HR Officer, stated “ The reduced attrition at 12.5%, enthusiastic response to our campus hiring, increased customer visits and employees returning to the office have resulted in great vibrancy in our delivery centres and elevated morale of our associates.”
