Tata Consultancy Services (TCS) kicked off the earnings season on Monday by announcing a 14.8% increase in net profit for the quarter ended March 2021, to Rs 9,246 crore, up from Rs 8,049 crore the previous quarter. The company declared a dividend of Rs 15 per share.
Revenue increased 9.4% to Rs 43,705 crore from Rs 39,946 crore in the previous fiscal year, according to the company. The board of directors has approved a Final Dividend of $15 per equity share, according to the firm. The company reported a net addition of 19,388 employees, the most it has ever had in a year.
TCS recorded a 7.18% year-on-year increase in its consolidated net profit of Rs8,701 crore in the December 2020 (Q3FY21) segment. For the year, total revenue was Rs42,015 crore, up 5.4% year on year and 4.7% quarter on quarter. Meanwhile, constant currency sales increased by 4.1% quarter over quarter and 0.4% year over year.
In a separate exchange filing, the company announced the appointment of Samir Seksaria as Chief Financial Officer, effective May 1, 2021, to succeed Mr. Ramakrishnan V., who will retire from the company on April 30, 2021.
TCS added 19,388 workers to its payrolls on a net basis in Q4FY21, the most it has ever added in a year. The overall headcount was 488,649, an increase of 40,185 over the previous year.
Shares of the information technology (IT) behemoth have risen 7% in the last month, compared to a 5.7% drop in the benchmark index. According to the IT behemoth, the third quarter saw the fastest growth in the last nine years. Strong demand fueled the company's success in the third quarter.
On the BSE, the IT company's stock ended 2.43% lower at 3,241.45 per share on Monday.