TCS's net profit rises 9% to ₹12,434 cr in Q4
What's the story
Tata Consultancy Services (TCS), India's leading IT company, has reported a 9% increase in net profit for the fourth quarter of FY24. The net profit rose to ₹12,434 crore from ₹11,392 crore during the same period last year. Additionally, the company's revenue saw an uptick with a 3.5% rise to ₹61,237 crore in the three months ending March 31.
Market predictions
TCS outperforms analysts' expectations
The financial results announced by TCS surpassed the predictions made by market analysts. The experts had forecasted a profit of ₹11,902 crore on revenue of ₹61,414 crore. These estimates were based on an average derived from 10 brokerage forecasts. However, TCS reported higher figures, indicating a stronger performance than anticipated in the market.
Dividend declaration
TCS announces final dividend of ₹28 per share
In addition to the increase in profit and revenue, TCS also announced a final dividend of ₹28 per share. This move underscores the company's commitment to providing returns to its shareholders. The announcement came alongside the report of a significant sequential growth in post-tax profit by 12%, compared to the previous December quarter. In Q4, the company concluded record deals amounting to $13.2 billion, while the total contract value of orders for FY 2024 reached a high of $42.7 billion.