TCS Q4 net profit up 4.4%

The country's largest software exporter TCS on Thursday reported a 4.4% growth in its consolidated net profit at Rs 6,904 crore for the March 2018 quarter and its board recommended a 1:1 bonus share issue.

The company had reported a net profit of Rs 6,608 crore in the same period last fiscal, TCS said in a regulatory filing.

The Tata Group company, which accounts for a lion's share of the group's overall profit, reported a revenue growth of 8.2% at Rs 32,075 crore for the said quarter, up from Rs 29,642 crore a year earlier.

"Strong demand in digital across all industry verticals and large transformational deal wins have made this one of our best fourth quarters in recent years. The strong exit allows us to start the new fiscal on a confident note," TCS CEO and MD Rajesh Gopinathan said.

Strong deal wins and a good pipeline positions TCS very well in the new fiscal, TCS Chief Operating Officer and Executive Director N Ganapathy Subramaniam said.

Digital revenue accounted for 23.8% of the revenue, up 42.8% year-on-year.

For the entire 2017-18, TCS saw its net profit dipping 1.7% to Rs 25,826 crore, while revenue rose 4.3% to Rs 1.23 lakh crore.

At the end of March 2018, TCS had 3,94,998 employees with attrition rate at 11% in IT services.

Shares end flat

Shares of TCS ended flat on Thursday ahead of its quarterly earnings. The stock ended at Rs 3,159.50, down 0.20% on the BSE. During the day, it lost 0.58% to Rs 3,147.30.

At NSE, shares of the company settled 0.23% lower at Rs 3,159.10.

The IT major is the country's most valued firm with a market valuation of Rs 6,04,819.16 crore.