Tata Consultancy Services Q4 Results: Consolidated net profit of Tata Consultancy Services (TCS), the country’s largest software services company, rose 14.9 per cent to Rs 9,246 crore in the January-March 2021 quarter. The company said in a regulatory filing that it is on an annual basis. TCS said in a regulatory filing that net profit was Rs 8,049 crore in the year-ago period.
The company hopes to grow even further
The revenue of the IT company has increased by 9.4 per cent to Rs 43,705 crore. A year ago it was Rs 39,946 crore. TCS Chief Executive Officer and Managing Director Rajesh Gopinathan said that over the last decade our investment in developing new capabilities and in research and innovation has prepared the company well for the opportunities for multi-year technology services going forward. While they will remain strong in traditional areas of strength, they are also making good progress in increasing the share of growth and transportation opportunities.
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He said that by going into FY 2022, the focus of the company will be to work with clients in its growth agenda, which will help in innovation and the benefit of collective knowledge. The company’s net profit rose to Rs 33,388 crore in the financial year ending in March 2021, from Rs 32,340 crore in the previous financial year (this does not include the provision of legal claim). The company reported a net profit of Rs 32,430 crore for FY 2021 on a reported basis.
TCS provided Rs 1,218 crore in its Consolidated Statement of Profit and Loss for the year ending 31 March 2021 for a legal matter (related to Epic Systems Corporation). The board of directors had proposed a final dividend of Rs 15 per equity share.