te TCS Q4 Results: From dividend to attrition to hiring — five key takeaways as Tata group IT giant kicks off earnings season | TCS DIVIDEND NEWS LIVE Zee Business

TCS Q4 Results: From dividend to attrition to hiring — five key takeaways as Tata group IT giant kicks off earnings season

Tata Consultancy Services (TCS) — the Tata group IT major which is the country's largest software exporter — on Friday reported its financial results for the quarter ended March 2023. Here's a lowdown on some of the key highlights of the IT bellwether's quarterly performance report. 

TCS Q4 Results: From dividend to attrition to hiring — five key takeaways as Tata group IT giant kicks off earnings season
TCS announced a dividend of Rs 24 per share as it reported a set of top-line and bottom-line that fell short of analyst estimates by a thin margin. | Image: TCS.com

TCS Q4 results, dividend: Tata Consultancy Services (TCS) — the Tata group IT major which is the country's largest software exporter and its second most valuable company — on Friday reported a five per cent sequential increase in net profit to Rs 11,392 crore for the quarter ended March 2023. Its revenue grew 1.6 per cent to Rs 59,162 crore for the three-month period compared with the previous quarter, according to a regulatory filing. Both of Tata Consultancy Services' top-line and bottom-line missed analysts' estimates by a thin margin. TCS announced a dividend of Rs 24 per share. 

Here's a lowdown on five key takeaways from the IT bellwether's quarterly report: 

TCS Q4 Results: Revenue growth

TCS also met analysts' estimates on the dollar revenue front. Its revenue in dollar terms grew 1.7 per cent on a quarter-on-quarter basis to $7,195 million, according to a company statement. According to Zee Business research, the company's quarterly revenue was pegged at $7,202 million. 

TRENDING NOW

Revenue in constant currency terms — or revenue arrived at minus the impact of currency fluctuations — grew 10.7 per cent on a year-on-year basis for the March quarter, as against 13.5 per cent for the previous three months. The rupee appreciated by 0.8 per cent against the US dollar in the final three months of the last financial year. 

TCS Q4 Results: Margin

The Tata group IT bellwether reported a steady margin at 24.5 per cent on a sequential basis. However, the margin — a key measure of a business's profitability — fell short of analysts' expectations.

Zee Business analysts had estimated the company's margin to improve by 30 basis points compared with the previous three months.

TCS Q4 Results: Dividend

The TCS board announced a dividend of Rs 24 per share.    

TCS Q4 Results: Attrition

Attrition in IT services cooled down by 120 basis points to 20.1 per cent on a last-twelve-months basis, according to TCS. The company net added 821 employees in the final quarter of 2022-23, and 22,600 in the year.

TCS said its workforce remains diverse, comprising 150 nationalities and with women making up 35.7 per cent of the base.

TCS Q4 Results: Deal wins

TCS said the count of large deals reached a record level in the year ended March 2023, taking the total contract value — or an estimate of the revenue associated with deals — to $34.1 billion.

For the March quarter, the company's total deal value stood at $10 billion.

Catch highlights of TCS results and latest updates on the stock market here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.

Written By: ZeeBiz WebTeam
Updated: Wed, Apr 12, 2023
10:27 pm
New Delhi, ZeeBiz WebDesk
RELATED NEWS
Dividend stock: TCS shares to trade ex-date on Friday Dividend stock: TCS shares to trade ex-date on Friday
Q3 Review: Are HCLTech and Wipro better bets as compared to Infosys and TCS? Q3 Review: Are HCLTech and Wipro better bets as compared to Infosys and TCS?
TCS announces 1800% special dividend: What is special dividend and how it is different from traditional dividend? TCS announces 1800% special dividend: What is special dividend and how it is different from traditional dividend?
Nifty IT index soars to new 52-week high after in-line results by IT majors Nifty IT index soars to new 52-week high after in-line results by IT majors
TCS stock gains over 3% after positive margin expansion in Q3; global brokerages divided TCS stock gains over 3% after positive margin expansion in Q3; global brokerages divided

By accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

x