TCS Q4 NET RISES 15% TO `9,246 CRORE

Tata Consultancy Services (TCS) on Monday ushered in the March quarter earnings season, reporting a 14.9 per cent rise in its consolidated net profit to Rs 9,246 crore.

The country's largest software services firm had posted a net profit of Rs 8,049 crore in the year-ago period.

In a regulatory filing, TCS said its revenue grew 9.4 per cent in the March 2021 quarter to Rs 43,705 crore from Rs 39,946 crore a year ago.

"Our investments over the last decade in building newer capabilities, and in research and innovation, position us well for the multi-year technology services opportunity ahead. While we continue to dominate in our traditional areas of strength, we are making good progress in gaining share in the growth and transformation opportunity," Rajesh Gopi-nathan, chief executive officer and managing director, TCS, said.

The company’s net profit for the financial year ended March 2021 was up at Rs 33,388 crore (excluding legal claim provisions) against Rs 32,340 crore in the previous financial year. Its net profit on a reported basis stood at Rs 32,430 crore for FY21.

The board has proposed a final dividend of Rs 15 per equity share.