 "TCS Q4 Results")
Tata Consultancy Services Ltd on Wednesday reported its earnings for the quarter ended March 2023.
The IT major reported a revenue from operations rose about 17% to Rs 59,162 crore.
The net profit for Q4FY23 has increased by 14.8 per cent to Rs 11,352 crore on a year-on-year (YoY) basis from Rs 9,959 crore in Q4FY22. It is a bigger-than-expected rise in fourth-quarter profit as India's top IT exporter saw firm demand for digital services despite a challenging macroeconomic backdrop.
TCS' earnings before interest and taxes (EBIT) margin grew 53 basis points for the quarter ended December 2022 to come in at 24.53 per cent, while margin during the quarter was aided by a currency tailwind of 70 basis points and 30 basis points of operational efficiency. The net profit came at Rs 9,959 crore, while the company reported revenue of Rs 58,229 crore in FY22.
The shares of Tata Consultancy Services Ltd ended one per cent higher at Rs 3,245.5 today as investors looked forward to the IT major's quarterly numbers. The stock has declined 0.5 per cent in 2023 and has fallen over 12 per cent in the last 12 months. It has gained in three out of the last six trading sessions.
TCS is the first among its peers to report quarterly earnings. The company is seeing a CEO transition - it named K Krithivasan as the CEO-designate in place of Rajesh Gopinathan, who resigned in March.
