Tata Consultancy Services, the largest IT services company in India and the second most valued company in India, has posted satisfactory results once again.
Its net profit grew 7% YoY and 2% QoQ to Rs 9,926 crores. The figure for last year was Rs 9,246 crores.
The consolidated revenue of the company stood at Rs 50,591 crores as the company saw multiple successful deals and growth across all business verticals. Revenue for the quarter was up 16% YoY and 3% QoQ.
For the 12 month period of Apr 21- Mar 22, the company posted a profit of Rs 38,327 crores and revenues of Rs 1,91,754 crores, both up around 17% YoY.
“We are closing FY22 on a strong note, with mid-teen growth and adding the maximum incremental revenue ever. Increasing participation in our customers’ growth and transformation journeys, and an all-time high order book provide a strong and sustainable foundation for continued growth ahead”, said Rajesh Gopinathan, Chief Executive Officer and Managing Director.
The Nifty IT index is down 4% in April and TCS is down 1.16%. Infosys is the biggest loser this month as it’s fallen around 7.3%. TCS’s stock currently trades around the level of Rs 3690 per share.