Tata Consultancy Services, India’s largest software services company on Thursday reported 5.7 percent sequential rise in net profit in its fourth quarter to Rs 6,904 crore, beating analyst expectations. The company`s third quarter profit was at Rs 6,531 crore.
EBIT margin for the quarter was 25.4 percent, up 4.7 percent sequentially to Rs 8,147 crore.
Full year EBIT was forecast at 26-28 percent. Full year margin came in at 24.8 percent. There was an impact of 90 basis points over last year; 70 basis points is due to currency impact and 20 bps from wage hikes and other elements.
Revenue rose 3.8 percent sequentially to Rs 32,075 crore for the quarter ended March 31, 2018. The revenue for the December quarter was Rs 30,904 crore.
Dollar revenue in Q4 was Rs 4,972 million compared to Rs 4,787 million in the preceding quarter.
Board approved bonus of 1 share for every share held, and a final dividend of Rs 29/share.
Analysts polled by Reuters had estimated Q4 net profit of Rs 6,811.8 crore. and revenue of Rs 31,669.2 crore.
The revenue growth in constant currency terms was at 2 percent. FY18 volume growth was 7.6 percent while revenue growth was 6.7 percent in constant currency terms.
Digital revenue grew 42.8 percent year-on-year (YoY) to 23.8 percent.
'Strong demand in digital ( 3 days ago )