Tata Consultancy Services (TCS) on Friday reported a net profit of Rs. 8,126 crore for the quarter ended March 31, 2019, beating analysts' estimates. That marked growth of 0.3 percent from its record net profit of Rs. 8,105 crore reported for the previous quarter. A strong performance in its banking, financial services, and insurance (BSFI) segment boosted the profitability of the country's largest IT services exporter in the March quarter. Some 33 analysts had on an average expected the IT major to report a profit of Rs. 8,011 crore, news agency Reuters reported citing Refinitiv Eikon data.
In a regulatory filing post-market hours on Friday, TCS reported a revenue of Rs. 38,010 crore for the last quarter of the financial year 2018-19 compared with Rs. 37,338 crore for the October-December quarter. The quarterly revenue grew 18.5 percent compared to the corresponding period a year ago - its strongest growth in the last fifteen quarters, TCS said.
“Our order book is bigger than in the prior three quarters, and the deal pipeline is also robust. Despite macro uncertainties ahead, our strong exit positions us very well for the new fiscal,” said Rajesh Gopinathan, chief executive officer and managing director, TCS.
Its revenue growth in the BFSI segment stood at 11.6 percent in the quarter ended March 31, as against 8.6 in the previous quarter.
On the operational front, TCS' earnings before income, tax, and amortization (EBITA) came in at Rs. 9,537 crores. TCS reported an operating margin of 25.1 percent for the quarter.
The board of the country's largest IT services company approved a final dividend of Rs. 18.00 per equity share, the company said in its regulatory filing.
For the financial year 2018-19, which concluded on March 31, the company's revenue stood at Rs. 146,463 crores, marking a growth of 19 percent compared to the previous year. In dollar terms, the full-year revenue crossed the $20 billion mark, the company said.
TCS shares closed 0.3 percent lower at Rs. 2,013.05 apiece on the NSE, ahead of the earnings announcement by the IT major. The stock underperformed the broader markets which rose 0.4 percent, closing higher for a second straight day.