The country’s largest software services firm Tata Consultancy Services on Monday opened the fourth-quarter earnings season with a stellar set of numbers, crossing the ₹50,000-crore revenue mark for the first time and earning a net income of ₹9,926 crore, registering a growth of 7.4 per cent year-on-year.
The company said its revenue jumped 15.8 per cent to ₹50,591 crore in the reporting quarter on an annualised basis.
Many analysts were expecting the Tata group flagship to report over ₹10,000 crore of net income and revenue to cross the ₹50,000 crore mark this quarter.
The net profit would have crossed the five-digits-mark for the first time, had it not been for a trimmed margin that slipped by 1.89 per cent to 25 per cent, the company said.
TCS closed fiscal 2022 with a bang, crossing for the first time $25 billion annual revenue of ₹1,91,754 crore, up 16.8 per cent, driven by the highest-ever incremental revenue of $3.533 billion and an all-time high order book.
Its annual profit jumped 14.8 per cent to ₹38,327 crore.
On a sequential basis, the revenue grew 3.2 per cent in constant currency terms.