TCS Q4 profit up 5.7% QoQ at Rs 6,904 cr, approves 1:1 bonus

Rajesh Gopinathan is the CEO and MD of Tata Consultancy Services
Image: Danish Siddiqui / Reuters

Tata Consultancy Services, India’s largest software services company on Thursday reported 5.7 percent sequential rise in net profit in its fourth quarter to Rs 6,904 crore, beating analyst expectations. The company's third quarter profit was at Rs 6,531 crore.

EBIT margin for the quarter was 25.4 percent, up 4.7 percent sequentially to Rs 8,147 crore.

Full year EBIT was forecast at 26-28 percent.

Revenue rose 3.8 percent sequentially to Rs 32,075 crore for the quarter ended March 31, 2018. The revenue for the December quarter was Rs 30,904 crore.

Dollar revenue in Q4 was Rs 4,972 million compared to Rs 4,787 million in the preceding quarter.

Board approved bonus of 1 share for every share held, and a final dividend of Rs 29/share.

Analysts polled by Reuters had estimated Q4 net profit of Rs 6,811.8 crore. and revenue of Rs 31,669.2 crore.

The revenue growth in constant currency terms was at 2 percent. FY18 volume growth was 7.6 percent while revenue growth was 6.7 percent in constant currency terms.

Digital revenue grew 42.8 percent year-on-year (YoY) to 23.8 percent.

Unlike Infosys, the second largest IT services exporter, TCS does not give quarterly or annual forecast.

Infosys last week posted revenue forecast largely in line with analyst estimates but forecast margin growth below analysts’ expectations.

TCS shares ended 1 percent higher Rs 3,190.65 per share on the BSE on Thursday.

This story first appeared on Moneycontrol.com