TCS Q4 net rises 4.5% at Rs 69.04 bn; Board approves 1:1 bonus share issue

At Rs 320.75 bn, TCS revenue rose 8% in annual terms and 3.8% in sequential terms; this is our highest incremental dollar growth in our history, says CEO & MD

The country's largest software exporter TCS today reported a 4.5% growth in its consolidated net profit at Rs 69.04 billion for the March 2018 quarter and its board recommended a 1:1 bonus share issue.

The company had reported a net profit of Rs 66.08 billion 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 320.75 billion for the said quarter, up from Rs 296.42 billion 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. This is our highest incremental dollar growth in our history," 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 258.26 billion, while revenue rose 4.3% to Rs 1.23 trillion. At the end of March 2018, TCS had 394,998 employees with attrition rate at 11% in IT services.

"We're glad to announce we're back to double digit trajectory on dollar revenue growth, UK has been leading with a strong growth of over 10% Y-o-Y," said Gopinathan added.

On Thursday, TCS stock on BSE closed 0.99% higher at Rs 3,190.65.