Infosys, Tata Consultancy Services report double digit growth in Q4

Infosys, Tata Consultancy Services report double digit growth in Q4

AgenciesUpdated: Tuesday, May 28, 2019, 11:53 PM IST
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Bengaluru/ Mumbai: The country’s largest software services firm Tata Consultancy Services (TCS) has reported a 17.7 pc growth in consolidated net profit at Rs 8,126 cr for the March 2019 quarter. This is against a net profit of Rs 6,904 cr in the year-ago period, TCS said in a regulatory filing. Revenue of the firm grew 18.5 pc in the quarter under review to Rs 38,010 cr from Rs 32,075 cr in the corresponding period last fiscal, it added. For the full year (2018-19), net profit was higher by 21.9 pc at Rs 31,472 cr, while revenue increased 19 pc to Rs 1,46,463 crore.

“This is the strongest revenue growth that we have had in the last fifteen quarters. Our order book is bigger than in the prior three quarters, and the deal pipeline is also robust. Despite macro uncertainties ahead, our strong exit positions us very well for the new fiscal,” Rajesh Gopinathan, CEO and MD at TCS, said. INFOSYS NET PROFIT UP BY 10.4 PC Meanwhile the Bengaluru Infosys reported a net profit of Rs 4,078 cr registering 10.4 pc annual growthon revenue at Rs 21,539 cr during the fourth quarter of 2018-19. The technology major had posted a profit of Rs 3,690 cr in the same quarter a year ago.

Sales for the quarter climbed up 19.1 pc from Rs 18,083 cr in the fourth quarter of the previous year. The operating profit was up by 3.3 pc at Rs 4,618 cr Y-O-Y but down 4.4 pc quarter-on-quarter. Basic EPS for the quarter ended March 31 works out to Rs 9.37, showing a growth of 10.4 pc Y-O-Y and 12.9 pc quarter-on-quarter. “We have completed the first year of our transformation journey with strong results on multiple dimensions including revenue growth, the performance of our digital portfolio, large deal wins, and client metrics,” said MD & CEO Salil Parekh.

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