Tata Consultancy Services (TCS), a prominent player in the IT software export sector, announced a notable 9 per cent surge in net profit for the Jan-March quarter of 2023-24, reaching Rs 12,434 crore compared to Rs 11,392 crore in the corresponding period of the prior year.
The company's board sanctioned a final dividend of Rs 28 per share.
According to the company's filing with the stock exchange, TCS witnessed a 3.5 per cent increase in revenue, amounting to Rs 61,237 crore during the quarter.
The operating margin saw a rise to 26 per cent from 25 per cent in the previous quarter.
For the full financial year 2023-24, TCS recorded a noteworthy 6.8 per cent escalation in revenue, totaling Rs 240,893 crore, with a net profit of Rs 46,585 crore.
In addition, TCS achieved an unprecedented milestone in new deals during the fourth quarter, amounting to $13.2 billion. The total value of new deals secured by the company for the entire financial year also reached a record high of $42.7 billion.
Expressing satisfaction, TCS Chief Executive Officer K Krithivasan stated, "We are very pleased to close Q4 and FY24 on a strong note with the highest ever order book and a 26 per cent operating margin, validating the robustness of our business model and execution excellence."
He further emphasized, "In an environment of global macro uncertainty, we are staying close to our customers and helping them execute their core priorities with TCS’ portfolio of offerings, innovation capabilities and thought leadership."
The closing share price of TCS stood at Rs. 4003.80 per share on BSE, marking a 0.48 per cent increase from the previous day's close.
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