Tata Consultancy Services (TCS), India’s largest IT services firm, reported steady financial growth for the fourth quarter ended March 2024, with net profit rising 9% and operational performance remaining strong.
As per regulatory filings, the IT major posted a net profit of Rs. 12,400 crore for the January-March period, up from Rs. 11,392 crore in the corresponding quarter of the previous year. Revenue from operations grew 3.5% to Rs. 61,237 crore for the period, versus Rs. 59,195 crore in Q4 FY2023.
The Mumbai-headquartered company widened its operating margins by 1.5% year-on-year to 26% in Q4 FY2024. This was achieved on the back of sustained demand for digital transformation and cloud services, as well as operational efficiencies.
For the full financial year 2023-24, TCS’ annual net profit increased 9% to Rs. 45,908 crore, driven by consistent business growth throughout the year. The company continues to benefit from long-term contracts with marquee global clients and its focus on next-gen technology solutions.
The TCS stock price closed 0.45% higher on the BSE following the results announcement. The IT major remains well positioned to keep capitalizing on accelerating technology spends globally and capture larger market share.
