Finance News –
India’s largest IT services company and second most valuable firm Tata Consultancy Services (TCS) on Monday announced its results for the quarter (Q4 FY22) ended March 31, 2022. TCS’s consolidated net profit grew 7.3% on a year-on-year (YoY) basis to Rs 9,926 crore in Q4 FY22.
The company’s net profit stood at Rs 9,246 crore in the year-ago period. In the previous quarter i.e. Q3 FY22, the net profit was 9,769 crores.
Company’s revenue up 16% in Q4
Q4 FY22 Revenue of the company grew by 16% to Rs 50,591 crore. The company’s quarterly revenue has crossed the 50 thousand crore mark for the first time. It was Rs 43,706 crore in the corresponding period of last financial year. The revenue during the October-December period stood at Rs 48,885 crore. The increase in revenue was driven by all-round growth across all business verticals.
Profit up 18% in FY22
For the full year i.e. FY22 (April 2021 to March 2022), consolidated profit grew by 18% to Rs 38,327 crore from Rs 32,430 crore a year ago i.e. FY21. FY22 consolidated revenue stood at Rs 1,91,754 crore, which is 17% higher than FY21 revenue of Rs 164,177 crore.
Most jobs given in this quarter
The total number of employees in the company has gone up to 592,195. The company added 35,209 employees in the quarter, which is the highest in any quarter. At the same time, 103,546 employees joined the company in the whole year. The company said that the workforce still remains quite diversified. The company has employees of 153 nationalities. Of these, 35.6% are women.
Declaration of Dividend of Rs.22
TCS has also declared a final dividend of Rs 22 per share. On April 11, TCS shares closed at Rs 3,699, up Rs 13.35 on the National Stock Exchange. The stock has given a return of 1.54% in the last one month and 13.94% during the last one year.
Result was as expected
Abhay Agarwal, Founder and Fund Manager, Piper Serica, a SEBI registered PMS provider, said, “TCS results are in line with our expectations to a large extent. We are confident that the company will continue to grow with a focus on mega deals. He said the margins are a little lower than expected. The reason for this could be the high attrition rate of 17.4%. We expect the attrition rate to continue to increase till next year as the demand for software engineers is very strong.
