TCS Q4 net grows 4.2% at Rs 6608 cr, but misses analysts' estimates

The Tata Group company, which accounts for more than 60 percent of the group's overall profit, reported a revenue growth of 4.2 per cent at Rs 29,642 crore for the said quarter, up from Rs 28,449 crore a year earlier.

FP Staff April 18, 2017 18:32:02 IST
TCS Q4 net grows 4.2% at Rs 6608 cr, but misses analysts' estimates

Mumbai:  Tata Consultancy Services (TCS) today reported 4.2 percent growth in net profit at Rs 6,608 crore for the quarter ended March 2017, but missed analysts' estimates.

The company had reported a net profit of Rs 6,340 crore in the same period last fiscal as per Indian accounting norms. Analysts had, on average, expected a consolidated profit of Rs 6,662 crore.

The Tata Group company, which accounts for more than 60 percent of the group's overall profit, reported a revenue growth of 4.2 per cent at Rs 29,642 crore for the said quarter, up from Rs 28,449 crore a year earlier.

"2016-17 was a year of broad-based growth amid economic and political turbulence in our key markets. We added US $1.4 billion in constant currency revenues during the year," TCS CEO and MD Rajesh Gopinathan said.

TCS Q4 net grows 42 at Rs 6608 cr but misses analysts estimates

Reuters

He added that the company's digital business grew 29 percent annually to US $3 billion, with most industries showing double-digit growth.

At the end of the fourth quarter, digital revenues were at 17.9 per cent, with a sequential growth of 7.6 percent.

For the entire 2016-17, TCS saw its net profit growing 8.3 percent to Rs 26,289 crore while revenue was up 8.6 percent at Rs 1,17,966 crore.

During the January-March 2017 quarter, TCS added 20,093 employees (gross) while on a net basis, the addition was 8,726, taking the overall employee strength to 3,87,223.

Attrition rate was at 11.5 percent on LTM basis.

 

 

 

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