TCS gains after declaring Q4 result

TCS rose 1.96% to Rs 2,053.30 at 09:29 IST on BSE after the company declared its Q4 result after market hours on Friday, 12 April 2019.

Meanwhile, the S&P BSE Sensex was up 52.16 points, or 0.13% to 38,819.27

On the BSE, 1.02 lakh shares were traded in the counter so far compared with average daily volumes of 1.76 lakh shares in the past two weeks. The stock had hit a high of Rs 2,085.60 and a low of Rs 2,041.05 so far during the day.

On a consolidated basis, Tata Consultancy Services (TCS) reported 0.26% rise in net profit to Rs 8126 crore on 1.82% rise in total income to Rs 39203 crore in Q4 March 2019 over Q3 December 2018.

Revenue growth continued to accelerate in BFSI, crossing over into double digits (+11.6% vs +8.6% in Q3). Growth was broad-based, with most verticals showing strong growth: Life Sciences & Healthcare (+18.2%), Energy & Utilities (+11.3%), Communications & Media (+10%), Retail & CPG (+9.9%) and Manufacturing (+9.2%).

All major markets showed strong growth momentum. Growth was led by UK (+21.3%) and Europe (+17.5%). Other markets continued to grow well: North America (+9.9%), Asia Pacific (+11.5%), India (+11.3%) and Latin America +16.2%.

Commenting on the Q4 performance, Rajesh Gopinathan, Chief Executive Officer and Managing Director, TCS, said that the company's order book is bigger than in the prior three quarters, and the deal pipeline is robust.

TCS is an IT services, consulting and business solutions organization. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions.

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