The IT major TCS in its Q4 results today net profits at Rs. 8049 crore. In the corresponding quarter a year ago, the profit came in at Ts. 8126 crore.
The profits have lagged as per the street estimates where a CNBC TV 18 poll pegged profits at Rs. 8200 crore.
Revenue at the firm has come in at Rs. 39946 crore. The company's earnings has even hit hard due to the global lockdown situation and in the quarters to come there is seen loss in revenue as demand from foreign countries may see a decline.
Amidst the tumult of the last few weeks, our priority has been to safeguard the health and well-being of our employees while continuing to support our customers' mission critical activities globally. The agility, resilience and adaptability of our operating model were put to the test, and it hos emerged stronger and more proven than ever before," Rajesh Gopinathan, Chief Executive Officer and Managing Director at TCS said.
"The pandemic completely reversed the positive momentum that we had started seeing in some of our biggest verticals in the first half of the quarter. On the positive side, we had very strong deal closures during the quarter. fn fact, our order book this quarter is the largest ever, from the time we started reporting the metric," he added.Dollar revenue for the quarter stood at $5,444 million while constant currency revenue growth was at 3 percent.
Total contract value at the end of March quarter stood at $8.9 billion.
At operating level,EBITA during the quarter ended March 2020 rose 0.5% sequentially to Rs 10,025 crore and margin increased by 10bp to 25.1 percent.
TCS announced a final dividend of Rs 6 per share.
Also, the company said there will be no retrenchment at any level amid the pandemic.
Stock of the company ended at 1715.60, down by 1.09%. Despite sharp depreciation in the rupee the stock in March alone has declined by 15%.