TCS's net profit rises 9% to ₹12,434 cr in Q4
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.
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.
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.
