TCS posts 9 pc jump in Q4 net profit at Rs 12,434 crore, declares dividend of Rs 28 per share

Mumbai, April 12 (SocialNews.XYZ) Leading IT software exporter Tata Consultancy Services (TCS) on Friday reported a 9 per cent increase in net profit at Rs 12,434 crore for the Jan-March quarter of 2023-24 up from Rs 11,392 crore in the same period of the previous year.

The TCS board has approved a final dividend of Rs 28 per share.

The revenue of the IT sector bellwether rose 3.5 per cent to Rs 61,237 crore during the quarter, according to the stock exchange filing by the company.

The operating margin went up to 26 per cent from 25 per cent in the previous quarter.

TCS posted a 6.8 per cent increase in revenue for the full financial year 2023-24 to Rs 240,893 crore while the net profit for the year was at Rs 46,585 crore.

TCS also registered an all-time high in new deals for the fourth quarter at $13.2 billion, while the value of the new deals won by the company for the full financial year also was a record $42.7 billion.

TCS Chief Executive Officer K Krithivasan said: “We are very pleased to close Q4 and FY24 on a strong note with the highest ever order book and a 26 per cent operating margin, validating the robustness of our business model and execution excellence.”

“In an environment of global macro uncertainty, we are staying close to our customers and helping them execute their core priorities with TCS’ portfolio of offerings, innovation capabilities and thought leadership,” he added.

The share price of TCS closed at Rs. 4003.80 per share on BSE, a 0.48 per cent increase over the previous day's close.

Source: IANS