TCS Q4 net profit up 4.4% at Rs 6,904 cr, revenue up 8.2%; board recommends 1:1 bonus

Mumbai: The country’s largest software exporter Tata Consultancy Services (TCS), on Thursday, reported a 4.4 percent growth in its consolidated net profit at Rs 6,904 crore for the March 2018 quarter and its board recommended a 1:1 bonus share issue. The company had reported a net profit of Rs 6,608 crore in the same period of the previous fiscal, TCS said in a regulatory filing. [caption id=“attachment_4270857” align=“alignleft” width=“380”] TCS logo. Reuters image.[/caption] The Tata Group company, which accounts for a lion’s share of the group’s overall profit, reported a revenue growth of 8.2 percent at Rs 32,075 crore for the said quarter, up from Rs 29,642 crore a year earlier. “Strong demand in digital across all industry verticals and large transformational deal wins have made this one of our best fourth quarters in recent years. The strong exit allows us to start the new fiscal on a confident note,” said TCS CEO and MD Rajesh Gopinathan. Strong deal wins and a good pipeline positions TCS very well in the new fiscal, said Chief Operating Officer and Executive Director N Ganapathy Subramaniam. Digital revenue accounted for 23.8 percent of revenue, up 42.8 percent year-on-year. For the 2017-18 financial year, TCS saw its net profit dipping 1.7 percent to Rs 25,826 crore, while revenue rose 4.3 percent to Rs 1.23 lakh crore. At the end of March 2018, TCS had 3,94,998 employees, and an attrition rate of 11 percent in IT services. TCS scrip The TCS stock ended 0.99% higher at Rs 3190.65 on the Bombay Stock Exchange (BSE) on Thursday, valuing the firm at Rs 6,10,782.17 crore.