IANS | 12 Apr, 2024
Leading IT software exporter Tata Consultancy Services (TCS) on
Friday reported a 9 per cent increase in net profit at Rs 12,434 crore
for the Jan-March quarter of 2023-24 up from Rs 11,392 crore in the same
period of the previous year.
The TCS board has approved a final dividend of Rs 28 per share.
The
revenue of the IT sector bellwether rose 3.5 per cent to Rs 61,237
crore during the quarter, according to the stock exchange filing by the
company.
The operating margin went up to 26 per cent from 25 per cent in the previous quarter.
TCS
posted a 6.8 per cent increase in revenue for the full financial year
2023-24 to Rs 240,893 crore while the net profit for the year was at Rs
46,585 crore.
TCS also registered an all-time high in new deals
for the fourth quarter at $13.2 billion, while the value of the new
deals won by the company for the full financial year also was a record
$42.7 billion.
TCS Chief Executive Officer K Krithivasan said: “We
are very pleased to close Q4 and FY24 on a strong note with the highest
ever order book and a 26 per cent operating margin, validating the
robustness of our business model and execution excellence.”
“In an
environment of global macro uncertainty, we are staying close to our
customers and helping them execute their core priorities with TCS’
portfolio of offerings, innovation capabilities and thought leadership,”
he added.
The share price of TCS closed at Rs. 4003.80 per share on BSE, a 0.48 per cent increase over the previous day's close.
