TCS Breaks Bad Spell After 6 Qtrs, Q4 Net Rises 3.8% to .₹ 6,341 Crore
Revenues rise 4% in line expectations; Chandrasekaran sees a strong FY17
Mumbai: Tata Consultancy Services’ fourth-quarter profit beat expectations and its revenue was in line, snapping a six-quarter spree of disappointing results, and India’s largest IT services firm said it expects a strong FY17.
For the fourth quarter, TCS’ revenue rose 1.5% sequentially to $4.21 billion, while its net profit rose 1.3% to $938 million. According to the Economic Times Intelligence Group, analysts had expected profit growth of less than 1%, and revenue growth of 1.5%. In rupee terms, TCS’ revenue rose 4% to .₹ 28,449 crore, while net profit rose 3.8% to .₹ 6,341 crore.