India's largest IT company, Tata Consultancy Services (TCS) reported net profits that were better than estimates at Rs 5358 crores, as against analyst estimates of Rs 5250 crores for Q4 ending March 31, 2014.
The Total Income was up to Rs 21,551 crores, as against Rs 21,294 crores in the previous quarter. The Q4 EBIT has come in at Rs 6,314.1 crore versus Rs 6,334.7 crore in the previous quarter. The volumes growth has come in at 2.59 per cent QoQ and the Q4 EBIT margin was at 29.3 per cent versus 29.7 per cent QoQ.
The management has sounded optimistic about the future prospects. N Chandrasekaran CEO and MD said, "We are upbeat that the next 12 months will bring many more opportunities for growth across multiple markets and industries. As an organization we remain focused on disciplined execution of our strategy as well as energizing our 300,000 TCSers to ensure they make a difference to their customers, colleagues and the community."
The company has said that there was holistic growth across markets and industries during the year.
The board of directors of the company have recommended a final dividend of Rs 20 per share. The stock of Tata Consultancy Services was down more than 2.5 per cent when markets closed. The results were declared after market hours and it's possible that the stock may show some signs of recovery after reporting better than expected results.