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Tata Consultancy Services (TCS), India’s largest IT services player, reported a strong set of numbers for its fourth quarter of FY21, as clients continued to spend on digital services and focused on reimagining their business operations. The biggest takeaway from the Q4 numbers was the order book at $9.2 billion, the highest ever reported by TCS in a quarter since the company started reporting this metric. TCS’s net profit for the quarter was up 14.9 per cent at Rs 9,246 crore year-on-year, and 6.2 per cent quarter-on-quarter (QoQ). Revenue at Rs 43,705 crore grew 5.9 per cent YoY and 4.2 per cent QoQ. For the full year, the company reported revenue of about Rs 1.65 trillion, up 4.6 per cent but on a constant currency basis revenue was down 0.8 per cent.
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Rajesh Gopinathan, chief executive officer and managing director, TCS, said the company entered FY22 more confidently and with better visibility. “As I have stated in the past, growth is being led by core transformation opportunities such as cloud migration, application transformation, and digital services. Our focus going into FY 22 will be to engage with clients in their growth agenda, propelled by innovation and leverage of collective knowledge.”
V Ramakrishnan, chief financial officer, said: “This caps three-quarters of consistently robust performance in a pandemic year, and gives us a strong exit from FY 21. Our Q4 margins are a validation of our strong belief that it is possible to win mega-deals, post-industry-leading growth, continue to invest in our people and in newer capabilities, and still deliver industry-leading profitability.”
