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The country’s largest software services firm, Tata Consultancy Services (TCS), on Monday reported a 7% rise in consolidated net profit to Rs 9,926 crore for the March 2022 quarter. This is against a net profit of Rs 9,246 crore in the year-ago period, TCS said in a regulatory filing.
The consolidated revenue of the IT major grew 16% to Rs 50,591 crore in the quarter under review from Rs 43,705 crore a year ago, while banking and finance segment revenue rose 11.2% to Rs 19,532 crore, it added.
India’s top IT exporter benefited from a wave of digital transformation sweeping across the globe.
The company’s board recommended final dividend of Rs 22 per equity share for Q4FY22.
“We would like to inform you that at the Board Meeting held today, the Directors have recommended a Final Dividend of Rs 22 per Equity Share of Re l each of the Company which shall be paid/dispatched on the fourth day from the conclusion of the 27th Annual General Meeting, subject to approval of the shareholders of the Company,” the company said.
On Monday, the company’s scrip on BSE closed trading 0.2% higher at Rs 3,696.40.
Rajesh Gopinathan, Chief Executive Officer and Managing Director, said: “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.”
In Q4, TCS added 35,209 employees on a net basis, the highest ever net addition in a quarter. Employee headcount stood at 592,195, a net addition of 103,546 during the year, another all-time high. “The workforce continues to be very diverse, comprising 153 nationalities and with women making up 35.6% of the workforce,” said TCS.
TCS closed fiscal 2022 with a bang, crossing for the first time $25 billion annual revenue of Rs 1.91 trillion, up 16.8%, driven by the highest-ever incremental revenue of $3.533 billion and an all-time high order book.
TCS posted its highest-ever order book total contract value of $11.3 billion in the quarter and posted operating margin of 25.3% in FY22.
Its annual profit jumped 14.8 per cent to Rs 38,327 crore. On a sequential basis, the revenue grew 3.2% in constant currency terms.
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