Tata Consultancy Services (TCS) reported 4.2 percent increase in net profit for the March 2017 (Q4) quarter to Rs 6,608 crore as against Rs 6,340 crore in the corresponding period last year, though it marked a drop of 2.5 percent from Rs 6,778 crore earned in the December 2016 quarter.
Revenues rose 4.19 percent to Rs 29,642 crore in Q4 from Rs 28,449 crore in the year-ago period, aided by 29 percent growth in digital revenues.
In dollar terms, Q4 revenues grew 1.5 percent sequentially to $4,452 million from $4,387 million in Q3 and broadly in line with estimates by some brokerages who had projected the company's Q4 topline to come in the range of $4,442 million to $4,465 million. Net profit rose 5.8 percent YoY to $992 million.
The company declared a final dividend of Rs 27.50 per equity share. The results were declared after stock markets closed for the day. The stock closed at Rs 2,309 on Tuesday while the BSE Sensex ended 95 points lower at 29,319.
For the full year 2016-17, revenues increased 8.6 percent YoY to Rs 117,966 crore and net profit also rose by the same margin to Rs 26,289 crore. In dollar terms, revenues stood at $17.58 billion, up 6.2 percent YoY and net profit stood at $3.92 billion.
The company said the growth came despite political headwinds during the year under review. "FY17 was a year of broad-based growth amidst economic and political turbulence in our key markets. We added $1.4 billion dollars in constant currency revenues during the year and increased our digital revenues sharply as we helped our customers leverage the digital economy," Rajesh Gopinathan, CEO and MD, said in a statement.
TCS added 33,380 employees on a net basis during the year.
"Despite headwinds from currencies, we have ended FY17 with an industry-leading financial performance while generating strong cash flows. We continue to invest to support organic growth of our digital business, build new market segments and drive profitability in our targeted range," V Ramakrishnan, Chief Financial Officer, said.
