TCS Profit Increases 16 Percent to Rs 11436 Crore, Company to Give Rs 24 Dividend

The country’s largest software company Tata Consultancy Services (TCS) has received orders worth about $ 10 billion in the fourth quarter of the last financial year. With this, the company’s order book has reached $34.1 billion. TCS has bagged the highest number of large deals for the fourth quarter. During January-March, the company’s net profit increased by more than 12 percent to Rs 11,436 crore. 9,959 crore in the same quarter last year. The company has declared a dividend of Rs 24.

The company’s consolidated revenue stood at Rs 59,162 crore, a growth of over 16 per cent. 50,591 crore in the same period of the previous financial year. The company’s growth in the fourth quarter was largely driven by its retail and consumer packaged goods (CPG) solutions. The growth of its CPG vertical was 13 percent. Apart from this, the Life Sciences and Healthcare vertical has grown by more than 12 percent. The growth of the rest of the verticals of the company remained in single digit. TCS secured a huge £600 million deal in February. The deal has come from UK-based insurance and financial services firm Pheonix Group for digital transformation.

TCS got the maximum growth from North America in terms of region. It is followed by Britain and India. company has reported that the number of women employees in its workforce has increased to 35.7 percent. Last month, TCS CEO, Rajesh Gopinathan resigned. The company had named K Krithivasan, head of BFSI, as the CEO in his place. Gopinathan will be with the company till September 15. For the past few months, the global tech industry along with India is facing difficulties due to the economic slowdown and some other reasons.

In this regard, the company said in a statement, “After an illustrious career of over 22 years with TCS and a successful innings over the last six years as Managing Director and CEO, Rajesh Gopinathan has decided to leave the company.” The board has designated K Krithivasan as CEO with immediate effect.” TCS told that from June 1, Krithivasan will take over his responsibility as Chief Executive Officer.

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