Business

TCS Reports 9% Increase in Q4 Net Profit at Rs 12,434 crore, Announces Dividend of Rs 28 per Share

Tata Consultancy Services (TCS) has reported a 9 per cent increase in net profit for the Jan-March quarter of 2023-24, reaching Rs 12,434 crore. The company’s revenue rose by 3.5 per cent to Rs 61,237 crore during the same period, with an operating margin of 26 per cent.

The TCS board has approved a final dividend of Rs 28 per share, reflecting the company’s strong financial performance. For the full financial year 2023-24, TCS posted a 6.8 per cent increase in revenue, reaching Rs 240,893 crore, with a net profit of Rs 46,585 crore.

TCS also achieved an all-time high in new deals for the fourth quarter, totaling $13.2 billion, and a record $42.7 billion for the full financial year. CEO K Krithivasan expressed satisfaction with the results, stating, “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.”

Despite global macro uncertainty, TCS remains focused on serving customers and helping them achieve their core priorities. The company’s share price closed at Rs. 4003.80 per share on BSE, representing a 0.48 per cent increase over the previous day’s close. TCS continues to demonstrate resilience and innovation in a challenging business environment.

IANS

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