TCS, Anand Rathi Q4 Profit Meets Estimates — Earnings Wrap
Here are the major quarterly results announced after market hours on April 12.
The announcement of quarterly results has started in full swing, with Tata Consultancy Services Ltd. announcing its earnings for the last quarter of fiscal 2023 on Wednesday.
The IT bellwether managed to meet revenue and profit estimates in a quarter overshadowed by recession fears and a global banking crisis.
Another company in focus was Anand Rathi Wealth Ltd., which saw 27% increase in revenue and 23% rise in net profit for the quarter under review.
Both companies announced their final dividends for the fiscal.
Here are the major earnings announced after market hours on April 12:
Tata Consultancy Services Q4 FY23 (Consolidated, QoQ)
Revenue rises 1.6% to Rs 59,162 crore, as compared with a Bloomberg estimate of Rs 59,505 crore.
EBIT up 1.4% at Rs 14,488 crore, as against a forecast of Rs 14,896 crore.
EBIT margin at 24.48% vs 24.53%. Analysts had estimated it at 25.03%.
Net profit up 5.08% at Rs 11,436 crore, as compared with an estimate of Rs 11,535 crore.
The company's board approved a final dividend of Rs 24 per share for the previous fiscal.
Anand Rathi Wealth Q4 FY23 (Consolidated, YoY)
Revenue up 27.05% at Rs 142.96 crore, as against a Bloomberg estimate of Rs 140.2 crore.
Ebitda up 32.83% at Rs 60.85 crore, as compared with a Bloomberg estimate of Rs 62.3 crore.
Ebitda margin at 42.56% versus 40.71%. Analysts had forecast it at 44.4%.
Net profit up 23.44% at Rs 42.71 crore, as against an estimate of Rs 44.6 crore.
The board recommended a final dividend of Rs 7 per share for fiscal 2023.
