TCS Q4 results: Tata Consultancy Services, India’s largest IT services company, on Friday reported a Profit After Tax (PAT) of Rs 12,434 crore for the fourth quarter of the financial year ending March 2024. This is a 9.1% year-on-year increase.
The company reported a revenue of Rs 61,237 crore, which is a 3.5% year-on-year growth. According to the TCS press release, the growth was led by India (+37.9%), UK (+6.2%), and Manufacturing (+9.7%). While the net income beat analyst expectations according to an ET report, the revenue came in below expectations said Reuters.
The Board proposed a final dividend of Rs 28 per share. TCS recorded a 2.2% revenue growth in constant currency terms. The company closed the quarter with record deals worth $13.2 billion, and the total contract value for the fiscal year 2024 stood at a record $42.7 billion.
TCS shares have seen an approximately 6% increase year-to-date, contrasting with a 1.4% decline in the broader IT index. Meanwhile, the blue-chip Nifty 50 index has recorded a 3.6% gain.
TCS Q4 results: Highlights
The company reported a revenue of Rs 61,237 crore, which is a 3.5% year-on-year growth. According to the TCS press release, the growth was led by India (+37.9%), UK (+6.2%), and Manufacturing (+9.7%). While the net income beat analyst expectations according to an ET report, the revenue came in below expectations said Reuters.
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The Board proposed a final dividend of Rs 28 per share. TCS recorded a 2.2% revenue growth in constant currency terms. The company closed the quarter with record deals worth $13.2 billion, and the total contract value for the fiscal year 2024 stood at a record $42.7 billion.
TCS shares have seen an approximately 6% increase year-to-date, contrasting with a 1.4% decline in the broader IT index. Meanwhile, the blue-chip Nifty 50 index has recorded a 3.6% gain.
TCS Q4 results: Highlights
- Revenue at Rs 61,237 crore, +3.5% YoY (CC: 2.2%)
- Growth led by India (+37.9%), UK (+6.2%), and Manufacturing (+9.7%)
- Operating Margin: 26.0%; YoY expansion of 150 bps
- Net Margin: 20.3%; YoY expansion of 100 bps
- Net Income: Rs 12,434 crore, +9.1% YoY
- Strong Cash conversion: Operating Cash Flow 100.4% of Net Income
- Final Dividend per share (proposed): Rs 28
K Krithivasan, Chief Executive Officer and Managing Director said that the company is very pleased to close Q4 and FY24 on a strong note with the highest ever order book and a 26% operating margin. According to K Krithivasan, this validates the robustness of TCS business model and execution excellence. “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 said.
Commenting on the results, N Ganapathy Subramaniam, Chief Operating Officer and Executive Director of TCS said, “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.”