TCS Q4 Results LIVE Updates: PAT meets expectations at Rs 12,434 crore, Tata group firm declares dividend; CEO K Krithivasan mentions global macro uncertainty
TCS Q4 Results FY24 Live Updates: Tata group IT giant Tata Consultancy Services (TCS) reported its financial results for the January-March period (Q4 FY24) on Friday, April 12, kicking off a new corporate results season for India Inc. With that, TCS became the first Nifty50 company to report its financial results for the fourth and final quarter of the financial year 2023-24. Catch all the latest updates on the much-anticipated event.
TCS Q4 Results FY24 Live Updates: Tata group IT giant Tata Consultancy Services (TCS) reported its financial results for the January-March period (Q4 FY24) on Friday, April 12, kicking off a new corporate results season for India Inc. With that, TCS became the first Nifty50 company to report its financial results for the fourth and final quarter of the financial year 2023-24. Catch all the latest updates on the much-anticipated event.
Here's a summary of the IT giant's fourth-quarter earnings report:
| Metric (consolidated) | Actual | Expectations (Zee Business poll) | |
| Q4 FY24 | Q3 FY24 | Q4 FY24 | |
| Net profit | Rs 12,434 crore | Rs 11,058 crore | Rs 12,200 crore |
| Revenue | Rs 61,237 crore | Rs 60,583 crore | Rs 61,800 crore |
| Dollar revenue | $736 million | $7,281 million | $7,452 million |
| EBIT | Rs 15,918 crore | Rs 15,155 crore | Rs 15,450 crore |
| Margin | 26% | 25% | 25% |
Catch all the latest updates on the fourth-quarter earnings report of the Tata group IT giant, Tata Consultancy Services (TCS), here:
Latest Updates
TCS Q4 Results LIVE Update: TCS has maintained crucial position with clients, observed decent revenue growth, says Gartner analyst
Biswajit Maity, Senior Principal Analyst at Gartner, says that TCS showcased strong growth this year with profits going up.
"One of its main strengths is how it focuses on its customers, building strong and long-lasting relationships with them. TCS is flexible in how it works with clients and makes sure negotiations are fair, especially during tough times like when there are changes or contracts need renewing. With the recent large deals and these attributes, TCS has maintained its crucial position with its clients and has observed decent revenue growth," says Maity.
"As TCS targeting for the large deals, TCS needs to closely monitor its services to ensure that the substantial increase in workload does not adversely affect the overall quality of service promised to its clients," the analyst adds.
TCS Q4 Results: Pleased to announce annual increments for our workforce, says Tata Consultancy Services Chief HR Officer
"We are pleased to announce the annual increments for our workforce, as we have done consistently every year, with top performers receiving double digit hikes," says Milind Lakkad, Chief HR Officer, TCS.
"The reduced attrition, at 12.5 per cent, enthusiastic response to our campus hiring, increased customer visits and employees returning to the office have resulted in great vibrancy in our delivery centres and elevated morale of our associates," says Lakkad.
TCS Results LIVE Update: Tata Consultancy Services doles out Rs 46,223 crore in dividends & buyback in FY24
The IT company's free cash flow for the financial year 2023-24 amounts to Rs 44,282 crore.
TCS Results LIVE Update: Strong finish to FY24 for TCS on the back of record deal wins & robust margins
Here are some highlights of the financial year 2023-24:
- Order book total contract value (TCV) at all-time high of $42.7 billion (record Q4 TCV at $13.2 billion)
- Revenue at Rs 2,40,893 crore, up 6.8 per cent YoY (constant currency growth at 3.4 per cent)
- Growth led by the UK (+10.1 per cent) and regional markets (+19.8 per cent)
- By verticals, growth led by
- Energy, resources and utilities (+12.6 per cent)
- Manufacturing (+7.3 per cent)
- Life Sciences & Healthcare (+4.8 per cent)
- Operating margin at 24.6 per cent
- Net margin at 19.3 per cent
- Net income at Rs 46,585 crore per cent, up 10.5 per cent YoY
Margins and net income exclude one-time charge of $125 million towards legal claim settlement
TCS Results LIVE Update: CFO Samir Seksaria says company's disciplined approach to operations helped it expect its industry-leading margin in FY24
"In a challenging environment, we persisted with our long-term investments in workforce reskilling, research and innovation," says Samir Seksaria, Chief Financial Officer, TCS.
Seksaria also says the company will "continue to drive efficiencies and competitiveness to capture opportunities for growth with profitability".
TCS Q4 Results LIVE Update: Broad-based deal wins across industries & geographies aid quarterly performance, says Tata Consultancy Services COO
TCS COO and ED N Ganapathy Subramaniam says the company's Q4 performance is robust with broad-based deal wins across industries and geographies.
"Our products and platforms business sparkled with the mega deal win at Aviva and emerging markets had another stellar growth quarter demonstrating the power of TCS’ diversified portfolio," Subramaniam adds.
TCS Q4 Results LIVE Update: Domestic market leads growth for Tata Consultancy Services
In the March quarter, growth at the company is led by India (+37.9 per cent) followed by the UK (+6.2 per cent).
TCS Q4 Results LIVE Update: TCS won 461 patents in March quarter
Here's a research & innovation update from the Mumbai-based IT major:
- As of March 31, 2024, TCS has applied for 8,040 patents
- It has been granted 3,919 patents
Out of those, the Tata group IT giant has applied for and has been granted 188 and 461 patents in Q4.
TCS Q4 Results LIVE Update: TCS workforce at 6,01,546 as of March 31
IT services attrition at the company is recorded at 12.5 per cent, on a last-12-month basis.
Here are some key metrics shared by TCS:
• Employee headcount: 6,01,546
• Diversity: 152 nationalities; 35.6% womenOn a YTD basis, "TCSers have clocked 51 million learning hours, and acquired 5 million competencies", says the IT firm.
TCS Q4 FY24 Results Live Update: CEO K Krithivasan says record order book, 26% operating margin validate robustness of company's business model, execution excellence
TCS CEO and MD K Krithivasan says: “We are very pleased to close Q4 and FY24 on a strong note with the highest ever order book and a 26 per cent operating margin."
"In an environment of global macro uncertainty, we are staying close to our customers and helping them execute on their core priorities with TCS’ portfolio of offerings, innovation capabilities and thought leadership," the TCS CEO adds.
File photo | Image credit: TCS.com
TCS Q4 Results LIVE Update: Attrition eases to 12.5% from 13.3% in Q3
Attrition at the IT giant comes in at 12.5 per cent in the January-March period as against 13.3 per cent three months ago.
TCS Q4 Results LIVE Update: Tata Consultancy Services registers 5.0% EBIT growth
The country's largest IT company, by sales and by market value, logs fourth-quarter earnings before interest and taxes (EBIT) of Rs 15,918 crore as against Rs 15,155 crore for the October-December period.
What does EBIT mean?
EBIT is a key financial metric that showcases a company's operational profitability. By excluding interest and taxes from the equation, EBIT provides a clearer view of a company's core profitability before accounting for external financial factors.
It serves as a crucial metric for investors and analysts to assess a company's operational efficiency and performance.
TCS Q4 FY24 Results Live Update: AI.Cloud, Enterprise Solutions, IOT&DE, Cyber Security lead growth for TCS in Q4
TCS Q4 FY24 Results Live Update: Clients prioritising initiatives that cut cost, raise business agility, improve security posture & resilience in challenging macro environment, says Tata group IT giant
TCS says that the win themes across key deals involved:
- Cloud Migration and Modernisation
- GenAI
- Enterprise application services
- Identity & Access Management
- Connected Devices
- Digital Workplace Services
- Network Services
- Vendor Consolidation
TCS Q4 Results LIVE Update: Here's a summary of the Tata group IT bellwether's market-wise performance in Q4 & FY24
Image: Regulatory filing
TCS Q4 Results LIVE Update: How Tata Consultancy Services fared in Q4 & FY24 across domains
Image: Regulatory filing
TCS Q4 Results LIVE Update: Tata Consultancy Services declares Rs 28/share interim dividend
TCS Q4 Results LIVE Update: Consolidated revenue grows 1.1% sequentially
The Tata group IT major's consolidated revenue for the January-March period stands at Rs 61,237 crore, as against Rs 60,583 crore for the previous quarter.
Zee Business analysts expected the Mumbai-headquartered Tata group IT giant's fourth-quarter revenue at Rs 61,800.
TCS Q4 Results LIVE Update: Consolidated net profit up 12.4% sequentially
The Tata group IT giant reports a consolidated net profit of Rs 12,434 crore for the fourth and final quarter of the previous financial year, as against Rs 11,058 crore for the previous three months.
The net profit is better than analysts' estimates.
According to Zee Business research, TCS was estimated to report a consolidated net profit of Rs 12,200 crore for the fourth quarter.
TCS Q4 RESULTS: Consolidated net profit at Rs 12,434 crore vs Rs 11,058 crore in Q3
TCS Q4 Results Today: Tata Consultancy Services shares rise half a per cent, shrugs off market-wide weakness
TCS shares end about half a per cent higher at Rs 3,999 and Rs 4,004.8 on BSE and NSE, respectively.
TCS Q4 Results Update: As investors await Tata Consultancy Services' fourth-quarter earnings due today, here's what HDFC Securities views IT space
The brokerage has moderated its estimates to factor in a weak exit to FY24 and a modest start to FY25 for the country's IT space, with a subsequent recovery in the second half of the current financial year.
According to HDFC Securities, IT sector valuations stand at 25x, at around 10 per cent above the five-year average of 23x and 35 per cent above the 10-year average of 18.5x.
Image: HDFC Securities
IT Q4 Results: Here's how IDBI Capital views the IT sector now
TCS Q4 Results LIVE: How IDBI Capital views Tata group IT giant
IDBI Capital has a 'hold' rating on TCS with a target of Rs 4,000 per share.
The brokerage values the stock at 27 and 24 times the earnings estimates for FY25 and FY26 respectively.
TCS Q4 Results LIVE Update: IDBI Capital expects TCS quarterly margin to expand by 52 bps
IDBI Capital expects the March quarter to be more or less muted for Tier 1 players. The brokerage has highlighted the following aspects to watch out for:
- Deal trend
- Budget outlook
- Remarks on discretionary spend
- FY25 outlook
It expects TCS to register a 52-basis-point improvement in its margin on the back of the absence of furloughs and higher utilisation.
Share Market Today LIVE: TCS shares give up day's gains amid overall weakness on Dalal Street
TCS Results LIVE Update: Ahead of TCS Q4 earnings due today, here's a summary of IT firm's performance in Q3
Tata Consultancy Services exceeded most analysts' expectations in the October-December period.
Here are key highlights of its Q3 FY24 earnings report:
Metric Actual Expectations Q3 FY24 Q2 FY24 Zee Business poll PAT Rs 11,058 crore Rs 11,342 crore Rs 11,600 crore Revenue Rs 60,583 crore Rs 59,692 crore Rs 59,900 crore Dollar revenue $7,281 million $7,210 million $7,200 million EBIT Rs 15,155 crore Rs 14,483 crore Rs 14,660 crore Margin 25% 24.3% 24.5% TCS Q4 Results LIVE Update: TCS stock holds on to green despite overall weakness on Dalal Street
TCS shares are holding on to the green, up 0.6 per cent for the day at Rs 4,007 apiece on BSE.
Earlier in the day, the IT scrip gained by as much as 30.7, or 0.8 per cent, to Rs 4,013.3 apiece.
TCS Share Price: Tata Consultancy Services shares up 0.4% in pre-open market
In the pre-opening session on Dalal Street, TCS shares are up by RS 17.5, or 0.4 per cent, at Rs 4,000 apiece on BSE.
TCS Q4 FY24 Results LIVE: Tata group IT major's stock rose 2.3% in March quarter
Tata Consultancy Services shares finished the fiscal fourth quarter of FY24 2.3 per cent stronger, in line with a 2.7 per cent gain in the headline Nifty50 index and outperforming a 1.7 per cent decline in the Nifty50 sectoral gauge.
TCS Q4 FY24 Results Live Update: Tata group IT major all set to hold a press conference at 5:30 pm today
TCS Q4 FY24 Results Live Update: Key things to watch out for
Analysts will closely track two main things in the IT major's upcoming results:
- Management commentary on demand trends and discretionary spending trends for FY25
- BSNL deal to aid revenue growth
Read more on what you can expect in TCS Q4 earnings report today | Will Tata group IT major announce a dividend?
TCS Q4 FY24 Results Live Update: Zee Business analysts peg Mumbai-based IT behemoth’s EBIT at Rs 15,450 crore
According to Zee Business research, TCS is estimated to register 1.9 per cent sequential growth in earnings before interest and taxes (EBIT), at Rs 15,450 crore.
TCS Q4 FY24 Results Live Update: Constant currency revenue likely to go up 2%
Analysts expect the operation margin of the country’s second most valuable firm to remain steady sequentially.
Tata Consultancy Services’ margin, a key measure of profitability, is expected to remain unchanged on a quarter-on-quarter basis, at 25 per cent, according to Zee Business research.
TCS Q4 FY24 Results Live Update: Constant currency revenue likely to go up 2%
TCS is estimated to register quarter-on-quarter revenue growth to the tune of two per cent in constant currency terms, according to Zee Business research.
Read more on what you can expect in TCS Q4 earnings report today | Will Tata group IT major announce a dividend?
TCS Q4 FY24 Results Live Update: Tata Consultancy Services dollar revenue expected to rise over 2%
TCS is estimated to register revenue of $7,281 million for the March quarter, which translates into growth of 2.3 per cent compared with the previous three months, according to Zee Business research.
TCS Q4 FY24 Results Live Update: Zee Business analysts peg TCS revenue at Rs 61,800 crore, up 2% QoQ
According to Zee Business research, Tata Consultancy Services is estimated to register fourth-quarter revenue of Rs 61,800 crore as against Rs 60,583 crore three months ago.
TCS Q4 FY24 Results Live Update: Tata group IT major expected to register 10.3% QoQ jump in consolidated PAT
According to Zee Business research, Tata Consultancy Services (TCS) is expected to clock a consolidated net profit of Rs 12,200 crore for the March quarter, as against Rs 11,058 crore for the previous three months (Q3 FY24).
Tata Consultancy Services’ third-quarter adjusted profit stood at Rs 12,016 crore due to a one-time charge of Rs 958 crore.
TCS Q4 FY24 Results Live Update: Welcome to Zeebiz.com's LIVE blog on the much-anticipated Tata Consultancy Services earnings for the quarter and the year ended March 31
TCS all set to kick off Q4 FY24 earnings season for India Inc
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