TCS profit at Rs 11,392 crore in the fourth quarter, 16.9 percent jump in revenue

TCS Q4 Results: The country’s largest IT company TCS (Tata Consultancy Services) has declared the results of the fourth quarter of the financial year 2022-23. In the fourth quarter, TCS reported a 14.8 per cent jump in net profit at Rs 11,392 crore. Earlier in the quarter, the net profit of TCS was Rs 10,846 crore. TCS’s revenue has seen a jump of 16.9 percent in the January-March quarter. TCS’s revenue in the fourth quarter was Rs 59,162 crore. Whereas in the same quarter a year ago, the revenue was Rs 50,591 crore. The revenue between October to December quarter of the current financial year was Rs 58,229 crore. TCS’s revenue in 2022-23 has been better than market expectations, although profits have been less than expectations. However, both the revenue and profit in the fourth quarter are less than the market estimates.

TCS has also announced a dividend of Rs 24 per share to its investors. TCS CEO and MD Rajesh Gopinathan said on the results that our strong growth in FY 2022-23 is very satisfactory. The strength of our order book reflects the resilience of demand for our services and shows us the path ahead for growth in the medium term. Together, Kriti and I are working to ensure that the leadership transition over the next few months is smooth and seamless for all our stakeholders, and that TCS is well-positioned to seize the opportunities ahead.

TCS Chief HR Officer Milind Lakkad said that we have just completed the National Qualified Test in which more than 6 lakh people had participated. We have issued 46,000 offers. TCS’s headcount increased by 821 in the fourth quarter. While the IT services attrition rate has been 20.1 per cent in the last 12 months, it has come down to 4.2 per cent on a quarterly basis. He told that this corona will come to the former level.

The company said that the company’s order book in the fourth quarter stood at $10 billion. While the total order book in 2022-23 was $ 34 billion. Earlier, TCS shares closed at Rs 3241 with a gain of 0.87 per cent.

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