TCS Q4 profits up 4.2% to Rs 6,608 crore

TCS dollar revenue grew 8.5% in FY17, outshining smaller rival Infosys which grew 7.4%

Tata Consultancy Services (TCS), India’s largest software exporter, said on Tuesday both fourth quarter (Q4) profits and revenues grew 4.2 per cent to Rs 6,608 crore and Rs 29,642 crore, on the back of improved digital business, but currency volatility impacted its margins in the three-month period.

TCS lost 1.3 per cent in revenue and 40 basis points in margins because of rupee volatility during the quarter. Subdued growth in key verticals such as retail and banking, financial services and insurance (BFSI) pushed the company to post numbers below analyst estimates. TCS’ constant currency revenues grew one per cent — lower