TCS Q4 net profit up 4.4 per cent at Rs 6904 crore

TCS stock closes 0.99% higher ahead of Q4 earnings

IT sector behemoth Tata Consultancy Services will announce its Q4 earnings today barely a week after country's second-largest software firm Infosys lowered margin guidance for FY19 during the first earnings presentation of the March quarter which spooked investors. However, the Q3FY18 net profit witnessed a sequential growth of 1.31 per cent as against net profit of Rs 6,460 crore in the preceding quarter.

The firm is seen logging earnings before interest and tax (EBIT) margin estimate at 25.5% (+30 bps QoQ), led by currency benefits. TCS board approved a 1:1 bonus issue of equity shares, subject to the approval of the shareholders.

Analysts polled by Reuters had estimated Q4 net profit of Rs 6,811.8 crore. and revenue of Rs 31,669.2 crore.

In constant currency terms, TCS reported a 6.7% growth, as against the 5.8% growth that Infosys managed.

With cross-currency tailwinds of 110 bps, Motilal Oswal expects dollar revenue growth of 3.3% QoQ.

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"We're glad to announce we're back to double digit trajectory on dollar revenue growth, United Kingdom has been leading with a strong growth of over 10 per cent year-on-year", said Gopinathan.

"Strong demand in digital across all industry verticals and large transformational deal wins have made this one of our best fourth quarters in recent years".

Ganapathv Subramaniam, Chief Operating Officer & Executive Director said, "Six of our industry verticals grew above company average in FY18; 4 in double-digits". Growth was led by the Energy & Utilities vertical, which grew 33.7 per cent in the quarter, followed by Travel & Hospitality, which registered a 25.4 per cent growth. North America grew 4.9 percent YoY.

At the end of March 2018, TCS had 3,94,998 employees, and an attrition rate of 11 percent in IT services. On Wednesday, the stock ended at Rs 3,159.50, down 0.20 per cent on BSE.

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