Tata Consultancy Services (TCS) on Monday reported a consolidated net profit of Rs 9,926 crore for the quarter ended March 31, posting year-on-year growth of 7.4 percent.
Rajesh Gopinathan, Chief Executive Officer and Managing Director, TCS, said in a statement that the company's consolidated revenue during the fourth quarter of 2021-22 jumped 15.8 percent year-on-year to reach Rs 50,591 crore.
"We are closing FY22 on a strong note, with mid-teen growth and adding the maximum incremental revenue ever. Increasing participation in our customers' growth and transformation journeys, and an all-time high order book provide a strong and sustainable foundation for continued growth ahead," he said.
All verticals grew in the mid to high teens. Growth was led by Retail and CPG (22.1 percent), Manufacturing vertical (19 percent) and Communications & Media (18.7 percent). Technology & Services grew 18 percent and Life Sciences and Healthcare 16.4 percent while BFSI grew 12.9 percent during the quarter under review.
TCS result is keenly watched as it sets the earnings trend of India Inc. TCS is the first among the Nifty 50 companies to announce its quarterly results.
For the full financial year 2021-22, TCS posted a consolidated profit of Rs 38,327 crore as compared to Rs 32,430 crore recorded in 2020-21, registering a growth of 18 percent.
On a full-year basis, growth was led by Retail and CPG (20.6 percent), Manufacturing vertical (19.4 percent), Life Sciences and Healthcare (19.2 percent). BFSI grew (16.7 percent), Technology & Services grew (15.8 percent) and Communications & Media grew (14 percent).
Growth among markets was led by North America which grew (18.7 percent). UK grew 13 percent, Continental Europe (10.1 percent).
Among emerging markets, Latin America grew 20.6 percent, Middle East & Africa (7.3 per cent), India (7 percent), and Asia Pacific (5.5 percent).
"While continuing to make all the investments needed to support our growth aspirations, we managed the headwinds this year to deliver an industry-leading operating margin yet again. The successful completion of our fourth buyback in five years is another milestone in our shareholder-friendly approach to capital allocation," said Samir Seksaria, Chief Financial Officer, TCS.