TCS Q4 net grows 4.2% to Rs 6,608 crore

TCS Q4 net grows 4.2% to Rs 6,608 crore
Tata Consultancy Services (TCS) has reported a 2.5% decline in net profit on a sequential basis for the quarter ended March 31, 2017 at Rs 6608 crore compared to Rs 6778 crore in the third quarter of the current fiscal.
 
Income from operations for the India's largest software exporter was nearly flat at Rs 29642 crore as against Rs 29735 crore in the sequential quarter.

Operating margins for TCS stood at 25.7% during the quarter while the company reported a volume growth of 1.7%. Gross employee addition for the company during the quarter stood at 20,093 employees while the net addition was 8726 employees. For FY17, the company added 78,912 employees with a net addition of 33,380 employees.
 
Digital revenues for TCS during the fiscal grew 29% (YoY) to over $3 billion. At the end of Q4, digital revenues were at 17.9% of the company's revenues with a QoQ growth of 7.6%.
 
"FY17 was a year of broad-based growth amidst economic and political turbulence in our key markets. We added $1.4 billion in constant currency revenues during the year and increased our digital revenues sharply as we helped our customers leverage the Digital economy. Our digital business grew at 29% annually with most industries showing double digit growth as we steadily increased the number of customers across different revenue bands," TCS managing director and chief executive officer Rajesh Gopinathan said.
 
Our clients are looking for integrated offerings as they advance their cloud agenda and we have a solid pipeline of deals across markets and industries. On the back of digital adoption, agile, automation and cloud are the themese that we are going to market to drive efficiencies and predictable outcomes across our clients infrastructure, applications and business operations, Gopinathan added.

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