TCS Q4 Results: Beats Estimates! CC Growth Highest In 7 Quarters, Margins Upbeat; PAT Up 29% QoQ—Full Report

Tata Consultancy Services (TCS) surprised with strong growth in Q4FY26 net profit to Rs 13,718 crore, registering growth of nearly 29% quarter-on-quarter and over 12% on a year-on-year basis. Not just that, TCS hit some record-breaking performance in top-line growth, deal wins and margins for the full fiscal year. The company reported 1.2% constant currency growth in the March quarter, the highest in the last seven quarters.

TCS Q4 Net Profit:

During the March 2026 quarter, TCS reported a net profit of Rs 13,718 crore, registering an upside of 12.22% from PAT of Rs 12,224 crore in the same quarter last year. Meanwhile, PAT jumped sharply by 28.72% from net profit of Rs 10,657 crore that was seen in Q3FY26.

Meanwhile, operating margins stood at 25.3%, expanding by 10 basis points. Also, net margins came in at 19.4%.

Talking about the performance, K. Krithivasan, Chief Executive Officer and Managing Director, said "We are pleased to report the third consecutive quarter of sequential growth, supported by three mega deals and a $12 billion TCV, underscoring the strength of our five pillar strategy and our AI led positioning across services."

"It is equally encouraging that this momentum was broad based across major markets and most industries. While the macro-economic headwinds continue, we see sustained customer conviction in technology investments, which positions us well for the opportunities ahead," added the CEO.

TCS Q4 Revenue:

In Indian rupees, the company posted revenue of Rs 71,455 crore in Q4FY26, registering an upside of Rs 9.07% YoY and 4.76% QoQ.

The company's top-line stood at Rs 65,507 crore in Q4FY25 and Rs 68,205 crore in Q3FY26.

In INR terms, TCS revenue is reported to be highest in 30 quarters.

TCS Q4 Constant Currency Revenue Growth:

The Tata Group's mega tech posted a constant currency revenue growth of 1.2% sequentially, which is said to be the highest in the last seven quarters. The company's annualized AI revenue crossed $2.3 billion in the fourth quarter under review.

TCS Q4 Deal Wins:

For Q4FY27, the company posted strong TCV to $12 billion, which is among the highest TCV ever in a quarter. The company bagged 3 mega deals in the quarter.

- $100M+ up by 2 YoY, number of clients increased to 66;

- $50M+ up by 9 YoY, number of clients increased to 139;

- $1M+ up by 65 YoY, number of clients increased to 1,397

Aarthi Subramanian, Executive Director - President and Chief Operating Officer, said "FY26 marked a pivotal year for enterprise AI adoption. In Q4, our annualized AI revenues surpassed $2.3 billion, driven by the accelerated deployment of AI solutions. We experienced strong deal momentum across new services in Enterprise Transformation, Digital Engineering, and Cloud Modernization. Our investment in HyperVault was a catalyst in forging strategic partnerships with OpenAI, AMD and ABB, further strengthening our positioning across Infrastructure-to-Intelligence."

TCS FY26 Performance:

TCS has witnessed some record-breaking growth in verticals for the entire financial year 2025-26.

- FY26 Operating Margin stood at 25%; up 70 basis points YoY - highest operating margin in last 4 years.

- FY26 Net Margin at 19.8% which is up 80 basis points YoY - highest net margin in last 4 years.

- Strong TCV performance at $40.7 billion for FY26, which is also highest ever. The company recorded 5 mega deals for the year.

- FY 26 Revenue stood at Rs 267,021 crore, registering a growth of 4.6% YoY and -2.4% in CC.

- In terms of PAT, FY26 profit stood at Rs 49,210 crore, which is mildly up from Rs 48,553 crore income in FY25.

For the full-year performance, Samir Seksaria, Chief Financial Officer, said, "In FY26, we intensified investments through our Build-Partner-Acquire approach, by acquiring Coastal Cloud & List Engage and establishing HyperVault. Even as we scaled our investments in AI‑led growth opportunities, our margins expanded by 70 basis points, reflecting our strong operational rigor. Our solid cash flow and resilient balance sheet position us to advance strategic priorities, pursue timely investments, and maximize growth."

TCS Share Price:

TCS shares will react to Q4 earnings on April 10. However, ahead of the result, TCS share price witnessed buying momentum as it ended at Rs 2587.75 apiece, up by 1.09% with market cap of Rs 9,36,270.60 crore.

TCS is the largest IT player in India.