Tata Consultancy Services (TCS) announced that its consolidated net profit increased 12.44% to Rs 12,434 crore in Q4 FY24 as compared with Rs 11,058 crore in Q3 FY24.
Revenue from operations increased 1.08% QoQ to Rs 61,237 crore in Q4 FY24.On year on year basis, the companys net profit rose 9% YoY and revenue from operations 3.51% in Q3 FY24.
During the quarter, constant currency revenue increased 2.2% YoY, operating margin expanded by 150 basis points (bps) to 26%. Net margin expanded by 100 bps to 20.3% YoY in Q4 FY24.
Profit before tax stood at Rs 61,849 crore in Q4 FY24, steeply higher than Rs 14,829 crore in Q3 FY24.
The company's order book total contract value (TCV) stood at $13.2 billion as on 31 March 2024 and operating cash flow was 100.4% of net income in Q4 FY24.
The IT giant said that its growth in Q4 was led by BFSI which jumped by 32.9% YoY, consumer business grew 16% YoY, Life Sciences & Healthcare increased by 10.9%, Manufacturing which grew 8.1% YoY, Technology & Services grew by 8.9% YoY, Communication & media grew by 7.1% YoY, Energy, resources and utilities grew 5.4% YoY while regional markets & Others increased 10.7%.
Among major markets, North America led with 52.4% growth, Latin America grew 1.8% YoY, UK and Continental Europe led by 15.7% and 15.1% growth while Asia Pacific grew 8%, India increased 5% and MEA (Middle East and North Africa) grew 2%.
TCS' workforce stood at 601,546 as on 31 March 2024. IT services' attrition was at 12.5% for the last twelve months.
In financial year 2023-2024, the companys net profit jumped 8.92% to Rs 45,908 crore in FY24 as compared with Rs 42,147 crore in FY23. Revenue from operations increased 6.85% YoY to Rs 2,40,893 crore in FY24.
The board has declared a final dividend of Rs 28 which shall be paid on the fourth day from the conclusion of annual general meeting.
K Krithivasan, chief executive officer and managing director, said: We are very pleased to close Q4 and FY24 on a strong note with the highest ever order book and a 26% operating margin, validating the robustness of our business model and execution excellence. In an environment of global macro uncertainty, we are staying close to our customers and helping them execute on their core priorities with TCS portfolio of offerings, innovation capabilities and thought leadership.
N Ganapathy Subramaniam, chief operating officer and executive director, said: Our Q4 performance is robust, with broad based deal wins across industries and geographies. Our products and platforms business sparkled with the mega deal win at Aviva and emerging markets had another stellar growth quarter demonstrating the power of TCS diversified portfolio.
TCS is an IT services, consulting and business solutions organization. It offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions.
Shares of Tata Consultancy Services (TCS) rose 0.45% to end at Rs 4000.30 on the BSE.
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