TCS Q4 Results: Net Profit Up 14.8% At Rs 11,436 Cr; Revenue Up 16.9%

Tata Group IT Major Tata Consultancy Services Ltd. (TCS) fell short of the earnings forecast. It recorded a net profit of Rs. 11,436 crore for the fourth quarter that ended in March 2023, a rise of 14.8% year over year (YoY). It reported an increase of 5% quarter-over-quarter (QoQ) as compared to Rs. 10,883 crore for the third quarter that ended in December 2022.

Consolidated revenue from operations was Rs 59,162 crore, up 16.9% from Rs 50,591 crore in the previous quarter. In the December quarter of FY23, it remained at Rs 58,229 crore.

TCS reported revenue of Rs 2.25 lakh crore for the entire fiscal year, up from Rs 1.91 lakh crore in FY22. In FY23, the net profit was calculated at Rs 42,303 crore, which is also more than the Rs 38,449 crore recorded in FY22.

The company also announced a final dividend of Rs 24 per share.

TCS was anticipated by analysts and trading firms to announce a double-digit increase in net profit for the fiscal fourth quarter, with forecasts reaching as high as nearly 18% on-year, supported by robust sales and significant deal momentum.

Meanwhile, ahead of the result announcement, the shares of IT giant TCS inched up. The share price closed up by 0.87% to Rs 3,241.65 apiece on NSE. The stock's previous close was Rs 3,213.80 apiece.
The stock traded the 52 week high and low at Rs 3,739.95 apiece and Rs 2,926.10 apiece, respectively.