TCS Q4 PAT at Rs 5,773 crore, up 7.7% YoY
Revenue for the fourth quarter was reported at Rs 24219.8 crore, up 12.4% YoY. In dollar terms the revenue came in at $3900 million.
By ET Online | Updated:
NEW DELHI: Tata Consultancy Services (TCS), the country's largest IT services exporter, on Thursday reported Profit After Tax (PAT) of Rs 5,773 crore, up 7.7% YoY and 8.4% QoQ. This profit is excluding the adjustment of a one-time bonus that TCS announced earlier in the day.
Revenue for the fourth quarter was reported at Rs 24219.8 crore, up 12.4% YoY. In dollar terms the revenue came in at $3900 million. TCS said revenue fell 0.8% sequentially in the fourth quarter, as India's largest IT services firm saw its topline battered by cross currency movements and the company just met Nasscom’s growth target for the year.
Cross currency movements in the company’s key markets such as the US, UK and Europe were expected to shave as much as 190-200 basis points off dollar-denominated growth.
For the full year, the company’s revenue grew 15%, just meeting the top end of Nasscom’s 13-15% growth estimate for the sector. For the past few years, TCS has beaten Nasscom’s expectations handily. On a constant currency basis, the company’s revenue grew 17% for the year.
The company added net 1,031 employees in Q4 and the attrition rate was 14.9%. The utilisation rate (including trainees) was reported at 81.5%.
Commenting on the results, N Chandrasekaran, CEO & MD of TCS said, "We are living in a world where technology is not just becoming integral to business but to our daily lives. TCS is playing a leading role in this ongoing revolution, helping our clients navigate and leverage Digital to help grow their businesses. our deep relationships with our customers, our domain expertise and strong rigor in operations have helped us continue to show leadership in FY15."
Ahead of the results, shares in TCS closed the day at Rs 2585.20, down 1.50% on the Bombay Stock Exchange. They hit an intraday high of Rs 2634.90 and a low of Rs 2567.80 in trade on Thursday.
Revenue for the fourth quarter was reported at Rs 24219.8 crore, up 12.4% YoY. In dollar terms the revenue came in at $3900 million. TCS said revenue fell 0.8% sequentially in the fourth quarter, as India's largest IT services firm saw its topline battered by cross currency movements and the company just met Nasscom’s growth target for the year.
Cross currency movements in the company’s key markets such as the US, UK and Europe were expected to shave as much as 190-200 basis points off dollar-denominated growth.
For the full year, the company’s revenue grew 15%, just meeting the top end of Nasscom’s 13-15% growth estimate for the sector. For the past few years, TCS has beaten Nasscom’s expectations handily. On a constant currency basis, the company’s revenue grew 17% for the year.
The company added net 1,031 employees in Q4 and the attrition rate was 14.9%. The utilisation rate (including trainees) was reported at 81.5%.
Commenting on the results, N Chandrasekaran, CEO & MD of TCS said, "We are living in a world where technology is not just becoming integral to business but to our daily lives. TCS is playing a leading role in this ongoing revolution, helping our clients navigate and leverage Digital to help grow their businesses. our deep relationships with our customers, our domain expertise and strong rigor in operations have helped us continue to show leadership in FY15."
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Ahead of the results, shares in TCS closed the day at Rs 2585.20, down 1.50% on the Bombay Stock Exchange. They hit an intraday high of Rs 2634.90 and a low of Rs 2567.80 in trade on Thursday.
"Globally all employees who have completed at least one year of service will be eligible for the special bonus payment. Each employee will be given a reward equivalent to one week's salary for every year of service completed at TCS," the company's press release said.
The company has about 319,000 employees globally. "This special reward to employees acknowledges the role they have played in building TCS into one of the most respected and valued technology services companies in the world," TCS CEO N Chandrasekaran said in a statement.
TCS went public in August 2004 and is now the most valuable company by market capitalization on the Indian stock exchanges.
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