TCS Q4 net profit up 9% to Rs 12,434 cr

Mumbai: Tata Consultancy Services (TCS) on Friday reported a 9 per cent growth in net profit at Rs 12,434 crore in January-March quarter of FY24, helped by improved margin and strong performance of its India business. The largest software services exporter had reported a post tax profit of Rs 11,392 crore in the same period of the preceding fiscal. In the entire FY24, the company's net profit surged 9 per cent to Rs 45,908 crore, while the revenue rose to Rs 2,40,893 crore from Rs 2,25,458 crore registered in FY23. In the reporting quarter, the company was able to expand its operating margin by 1.50 per cent to 26 per cent, which boosted the profit.

Revenue also increased by 3.5 per cent to Rs 61,237 crore during the reporting quarter from Rs 60,583 crore in the corresponding quarter a year ago. In the fourth quarter of FY24, the company bagged new orders worth $13.2 billion, highest-ever in a quarter. Profit margin and order book validates the robustness of the business model and execution excellence, chief executive and managing director K Krithivasan said in a statement.

"In an environment of global macro uncertainty, we are staying close to our customers and helping them execute on their core priorities with TCS' portfolio of offerings, innovation capabilities and thought leadership," he said.