TCS Q4 Earnings Beats Estimates, Order Book At All-Time High

TCS reported its earnings for the quarter ended March in the after-market hours on Friday.

What Happened: India's largest IT services company's Q4 results beat analysts' estimates on both revenue and bottom line. The consolidated net profit for the quarter ended March was at ₹12,434 crore, up 9.4% from the ₹11,392 crore reported in the same quarter last year.

Revenue witnessed a 3.5% year-on-year growth at ₹61,237 crore. While analysts' projections pegged revenue at around ₹61,000 crore and a profit of ₹11,900 crore. The EBIT margin for the quarter was at 26%.

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Commenting on the results, K Krithivasan, CEO, TCS, said, “We are very pleased to close Q4 and FY24 on a strong note with the highest ever order book and a 26% operating margin, validating the robustness of our business model and execution excellence.”

In addition to the financial results, the board recommended a final dividend payout of ₹28 per share

During the March quarter, TCS secured contracts totalling $13.2 billion, reflecting a massive jump from the $8.1 billion posted in the preceding quarter. The company’s order book is at an all-time high of $42.7 billion.

Price Action: TCS‘s share price 0.48% to close at ₹4,003.80 on Friday.

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