Mumbai, April 11: India’s largest IT firm Tata Consultancy Services (TCS) on Monday reported a consolidated net profit of Rs 9,926 crore for the quarter ended March 31, posting year-on-year growth of 7.4 per cent.
The company’s consolidated revenue during the fourth quarter of 2021-22 jumped 15.8 per cent year-on-year to reach Rs 50,591 crore.
“We are closing FY22 on a strong note, with mid-teen growth and adding the maximum incremental revenue ever. Increasing participation in our customers’ growth and transformation journeys, and an all-time high order book provide a strong and sustainable foundation for continued growth ahead,” Rajesh Gopinathan, Chief Executive Officer and Managing Director, TCS, said in a statement.
All verticals grew in the mid to high teens. Growth was led by Retail and CPG (22.1 per cent), Manufacturing vertical (19 per cent) and Communications & Media (18.7 per cent). Technology & Services grew 18 per cent and Life Sciences and Healthcare 16.4 per cent while BFSI grew 12.9 per cent during the quarter under review.
TCS result is keenly watched as it sets the earnings trend of India Inc. TCS is the first among the Nifty 50 companies to announce its quarterly results.
For the full financial year 2021-22, TCS posted a consolidated profit of Rs 38,327 crore as compared to Rs 32,430 crore recorded in 2020-21, registering a growth of 18 per cent.
On a full-year basis, growth was led by Retail and CPG (20.6 per cent), Manufacturing vertical (19.4 per cent), Life Sciences and Healthcare (19.2 per cent). BFSI grew (16.7 per cent), Technology & Services grew (15.8 per cent) and Communications & Media grew (14 per cent).
Growth among markets was led by North America which grew (18.7 per cent). UK grew 13 per cent, Continental Europe (10.1 per cent). Among emerging markets, Latin America grew 20.6 per cent, Middle East & Africa (7.3 per cent), India (7 per cent), and Asia Pacific (5.5 per cent).
“While continuing to make all the investments needed to support our growth aspirations, we managed the headwinds this year to deliver an industry-leading operating margin yet again. The successful completion of our fourth buyback in five years is another milestone in our shareholder-friendly approach to capital allocation,” said Samir Seksaria, Chief Financial Officer, TCS.
