IT major Tata Consultancy Services (TCS) today announced its financial performance for the quarter ending March 2022 period.
The largest IT company in India on Monday reported a 7.4 per cent year-on-year rise in consolidated net profit at Rs 9,926 crore as against Rs 9,246 crore in the same quarter last year.
The revenue crossed Rs 50,000 crore for first time; for the fourth quarter it grew 16 per cent to Rs 50,591 crore, from Rs 43,705 a year ago.
The company proposed a final dividend of Rs 22 per share.
Shares of TCC finished marginally higher at Rs 3,696 on the BSE, while on NSE it closed 0.36 per cent up at Rs 3,699.
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Tata Consultancy Services Ltd is a leading global IT services, consulting and business solutions organization offering transformational as well as outsourcing services to global enterprises.
The IT major's consolidated net profit rose 12.4% to Rs 9,806 crore on a 16.4% increase in revenues to Rs 48,885 crore in Q3 FY22 over Q3 FY21.
Many analysts were expecting the Tata group flagship to report over Rs 10,000 crore of net income and revenue to cross the Rs 50,000 crore mark this quarter.
The net profit would have crossed the five-digits-mark for the first time, had it not been for a trimmed margin that slipped by 1.89 per cent to 25 per cent, the company said.
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TCS closed fiscal 2022 with a bang, crossing for the first time USD 25 billion annual revenue of Rs 1,91,754 crore, up 16.8 per cent, driven by the highest-ever incremental revenue of USD 3.533 billion and an all-time high order book.
Its annual profit jumped 14.8 per cent to Rs 38,327 crore.
On a sequential basis, the revenue grew 3.2 per cent in constant currency terms.
TCS, the single largest employer in the private sector, added 1,03,546 employees on a net basis during the year, taking the overall headcount to 5,92,195, who hail from as many as 153 nationalities and 35.6 per cent of them women. They are deployed in 46 countries.
Of the net addition of 1,03,546, as many as 35,209 were hired in the reporting quarter, which is also the highest ever, the company said. However, despite such massive employee addition, the company faced a very high 17.4 per cent attrition.
The company has a free cash flow of Rs 39,181 crore, which is 111.3 per cent of net income and returned Rs 31,424 crore of cash to shareholders through buybacks and dividends.
(With Agency Inputs)
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