TCS March Quarter Profit At Rs 8,126 Crore, Beats Analysts' Estimates
Tata Consultancy Services (TCS) on Friday reported a net profit of Rs 8,126 crore for the quarter ended March 31, 2019, beating analysts' estimates. That marked a growth of 0.3 per cent from its record net profit of Rs 8,105 crore reported for the previous quarter. A strong performance in its banking, financial services and insurance (BSFI) segment boosted the profitability of the country's largest IT services exporter in the March quarter. Some 33 analysts had on an average expected the IT major to report a profit of Rs 8,011 crore, news agency Reuters reported citing Refinitiv Eikon data.
In a regulatory filing post-market hours on Friday, TCS reported a revenue of Rs 38,010 crore for the last quarter of financial year 2018-19 compared with Rs 37,338 crore for the October-December quarter. The quarterly revenue grew 18.5 per cent compared to the corresponding period a year ago - its strongest growth in the last fifteen quarters, TCS said.
“Our order book is bigger than in the prior three quarters, and the deal pipeline is also robust. Despite macro uncertainties ahead, our strong exit positions us very well for the new fiscal,” said Rajesh Gopinathan, chief executive officer and managing director, TCS.
Its revenue growth in the BFSI segment stood at 11.6 per cent in the quarter ended March 31, as against 8.6 per cent in the previous quarter.
On the operational front, TCS' earnings before income, tax and ammortisation (EBITA) came in at Rs 9,537 crore. TCS reported an operating margin of 25.1 per cent for the quarter.
The board of the country's largest IT services company approved a final dividend of Rs 18.00 per equity share, the company said in its regulatory filing.
For the financial year 2018-19, which concluded on March 31, the company's revenue stood at Rs 146,463 crore, marking a growth of 19 per cent compared to the previous year. In dollar terms, the full-year revenue crossed the $20 billion mark, the company said.
TCS shares closed 0.3 per cent lower at Rs 2,013.05 apiece on the NSE, ahead of the earnings announcement by the IT major. The stock underperformed the broader markets which rose 0.4 per cent, closing higher for a second straight day.
TCS said it clocked a net addition of 29,287 employees in the last financial year, as against 7,775 in 2017-18.
