The Tata Consultancy Services Limited, one of the IT major in India has announced its Q4 earnings statement which states that the net profit of the company stands at Rs 8,126 crore for the fourth quarter of 2019 as compared to Rs 8,105 crore during the previous quarter of 2019 (quarter-on-quarter basis).
The revenue for the fourth quarter of 2019 was recorded at Rs 38,010 crore as against Rs 37,338 crore which it earned during the previous quarter of 2019 (quarter-on-quarter basis). With this, the net revenue of the company are up by 18.5% for Q4 2019 as against Rs 32,075 crore for Q4 2018.
The company's Chief Executive Officer and Managing Director - Rajesh Gopinathan has stated that "This is the strongest revenue growth that we have had in the last fifteen quarters. Our order book is bigger than in the prior three quarters, and the deal pipeline Is also robust. Despite macro uncertainties ahead, our strong exit positions us very well for the new fiscal."
He further added that "Our full spectrum digital transformation capabilities and thought leadership is what is driving the strong demand for our services, and making us the preferred innovation and transformation partner to our customers. Our Business 4.0"" framework has now become the de facto model for enterprises looking to embrace new technology-enabled business models, pursue new revenue streams or deliver superior customer experiences."
The operating margin of the company declined by 31 basis points year-on-year basis to settle at 25.1 percent.
The company has also recommended a final dividend of Rs 18 per equity share.
The scrips of TCS closed at Rs 2,013.05 per piece down by 0.32% during today's trade session before the announcement of earnings statement.