TCS Q4 results: Net Profit Increased by 14.90% to Rs. 9,246 crores; Beats Estimates
TCS Q4 results: It is also known as Tata Consultancy Services Limited (TCS), which is an Indian multinational company located in Mumbai. The company provides services in Information Technology (IT) and Consulting services across the world. Whereas it is the second-largest company in terms of market capitalization. However, the company works under the subsidiary of Tata Group. The present chief executive officer (CEO) of the company is Rajesh Gopinathan.
Meanwhile, on Tuesday, April 13th, the shares of the company plunged almost 4% in the stock market. The main reason for this is the IT company reported its Q4 results for the financial year 2021-22. The companies standalone net profit increased by 14.90% Year-on-Year (YoY) to Rs. 9,246.00 crores in Q4FY21. While the company also posted its standalone net profit of Rs. 8,049.00 crores in the same quarter last fiscal year.
Moreover, the companies total revenue from operations increased by 9.40% YoY to Rs. 43,705.00 crores as against Rs. 39,946.00 crores in the same period last financial year. The companies total expenditure during the quarter stood at Rs. 30,838.00 crores as against Rs. 29,921.00 crores in the same period last year.
Whereas the revenue in terms of dollars increased by 4.20% to $5.99 billion in Q4FY21, beating the estimates of the analysts. The company reported almost $22.17 billion in revenue for the financial year 2021-22.
In the Financial Year 2021-22, the profits of the company marginally increased to Rs. 32,562 crores compared to the financial year 2020. While the revenue of the company during the financial year 2021-22 increased by 3.60% to Rs. 1,67,311 crores.
On the other side, the company bagged projects worth almost $9.20 billion from clients during this quarter. It is the best-ever for any three months period as the profits raised by 15% and revenues raised by almost 10% respectively.
Besides, the IT company declared a final dividend of Rs. 15 per equity share. So that the total dividend paid by the company during the financial year 2021-22 stood at Rs. 38 per share.
While the companies revenue from banking, financial services, and insurance (BFSI) increased by 15% YoY to Rs. 17,559 crores as against Rs. 15,207 crores in the same quarter last year.
We are entering into FY22 with much better visibility by and large. However, we remain very optimistic about the overall demand. The company’s main focus will be on the growth and transformation of deals with various models to win business deals, said Rajesh Gopinathan, Chief Executive Officer (CEO), TCS.
After the results of the company, the brokerage firm maintained a “buy” call on the stock with different target prices shown below:
However, the shares of TCS Limited on Tuesday reported a bearish trend in the stock market. It lost 126.55 points with a 3.90% decrease and reached 3,120.00 INR. While in BSE, the company lost 136.45 points with a 4.21% decrease and reached 3,105.00 INR.
Stock Market on April 13th:
On Tuesday, both Sensex and Nifty reported a bullish trend in the stock market after bearish reports in the last session of the market. The Sensex is trading above 48,500 levels and nifty trading above 14,500 levels in the stock market. The Sensex gained 660.68 points with a 1.38% increase and reached 48,544.06 levels. While the nifty gained 194.00 points with a 1.36% increase and reached 14,504.80 levels.
On the other side, the number of coronavirus cases in India on Wednesday, April 14th reached 1,38,73,825 with almost 1,72,085 deaths.
In the border markets, the S&P BSE Small-Cap index reported a bullish trend in the stock market on Tuesday. It gained 248.47 points with a 1.21% increase and reached 20,805.48 levels. But, the S&P BSE Midcap gained 287.24 points with a 1.46% increase and reached a 19,943.99 level. While the Nifty Bank gained 979.60 points with a 3.18% increase and reached 31,771.60 level.
Top Gainers on April 13th: Mahindra & Mahindra, Bajaj Finserv, Tata Motors, Bajaj Finance, and Maruti Suzuki are the top gainers in today’s stock market.
Top Losers on April 13th: Dr. Reddy’s Laboratories, TCS, Tech Mahindra, Wipro, and HCL Technologies are the top losers in today’s stock market.