TCS net profit flat at Rs 8,049 crore in Q4; freezes salary hike

The numbers are largely in line with street expectations. Brokerages (on an average basis) expected net profit or profit after tax (PAT) for the quarter to fall 0.3 per cent QoQ to Rs 8,095.4 crore.

Tata Consultancy Services (TCS) on Thursday posted a mix set of numbers, with the IT services firm missing estimates on the revenue front even as it improved its operating margin in Q4FY20.

Though earnings were less affected by the pandemic, the firm’s double-digit revenue growth streak, in constant currency (CC) terms, came to a halt.

For Q4FY20, it reported consolidated net profit of Rs 8,049 crore — a 0.8 per cent sequential decline, and 0.94 per cent year-on-year (YoY) fall. Revenue for the quarter stood at Rs 39,946 crore, up 0.2 per cent sequentially and 5.1 per cent YoY.

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