TCS rose 3.33% to Rs 3,296.95 at 9:25 IST on BSE after consolidated net profit rose 5.81% to Rs 6925 crore on 3.79% increase in net sales to Rs 32075 crore in Q4 March 2018 over Q3 December 2017.
The result was announced after market hours yesterday, 19 April 2018.Meanwhile, the S&P BSE Sensex was down 45.45 points, or 0.13% to 34,381.84.
On the BSE, 2.60 lakh shares were traded in the counter so far compared with average daily volumes of 1.55 lakh shares in the past two weeks. The stock had hit a high of Rs 3,320 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 3,245 so far during the day. The stock hit a 52-week low of Rs 2,265.30 on 28 April 2017.
TCS said digital engagements contributed 23.8% of revenue in Q4 March 2018, a growth of 42.8% Y-o-Y.
Net profit fell 1.81% to Rs 25,880 crore on 4.36% increase in net sales to Rs 123104 crore in the year ended March 2018 over the year ended March 2017.
The board of TCS recommended bonus issue of equity shares in the ratio of 1 equity share of Re 1 each for every 1 equity share of Re 1 each.
Commenting on the Q4 performance, Rajesh Gopinathan, CEO and MD, said strong demand in digital across all industry verticals and large transformational deal wins have made this one of the company's best fourth quarters in recent years. The strong exit allows the company to start the new fiscal on a confident note.
N. Ganapathy Subramaniam, Chief Operating Officer & Executive Director, said the company is executing on its Business 4.0 strategy and that is paying off very well. TCS' participation in its customers' digital spending is expanding ahead of the industry. Six of TCS' industry verticals grew above the company average in FY 2018, four of them growing double digits. Strong deal wins and a good pipeline positions the company very well in the new fiscal.
V. Ramakrishnan, Chief Financial Officer, said disciplined execution delivered an all-time high cash conversion in Q4. TCS stayed geared for higher growth, and continued to invest in its people and in the business. With revenue growth improving, and TCS' digital business scaling up, the company expects its margins to remain in a stable range.
TCS is an IT services, consulting and business solutions organization that partners with many of the world's largest businesses in their transformation journeys.
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