Tata Consultancy Services Ltd (TCS), India’s largest IT services company and the second most valuable firm, on April 11 reported a consolidated net profit of Rs 9,926 crore for the fourth quarter ended March 2022, registering a 7 percent on-year growth.
The company had reported a consolidated profit after tax (PAT) of Rs 9,246 crore in the corresponding quarter last year. In the December quarter, its PAT stood at Rs 9,769 crore.
The consolidated revenue for TCS during the January – March period stood at Rs 50,591 crore, up 16 percent from the year-ago quarter, aided by all-round growth across business verticals, stable deal wins and an increase in transformation spends by corporates.
The company had reported consolidated revenues of Rs 43,705 crore in the corresponding quarter a year ago. Its revenues during the October-December period came in at Rs 48,885 crore.
For the full year period (April-March 2022), the consolidated profit was recorded at Rs 38,327 crore, which is a growth of 18 percent from a profit of Rs 32,430 crore reported for FY21.
Consolidated revenues for FY22 stood at Rs 1,91,754 crore, a 17 percent rise from the revenues of Rs 164,177 crore reported for FY21.
Though the supply side issues created headwinds for the industry as a whole, strong deal wins during the year, strengthening demand since the opening of world economy after the pandemic, increased spends by global clients on cloud, digital transformation, 5G, Internet of Things (IOT), cyber security and data analytics helped the company post strong performance during FY22.
The TCS stock closed with a gain of Rs 10.75 at Rs 3,696.4 on April 11 at the National Stock Exchange. The stock has appreciated 2.7 percent in the past one month and has generated returns of 11.3 percent during the past one year.
(This is a developing story. Please check back for updates)
Download your money calendar for 2022-23 here and keep your dates with your moneybox, investments, taxes
