CS Q4 Results 2020: TCS reports net profit of Rs 8,049 crore in Q4; Rs 6 Dividend Anounced

NEW DELHI: The country’s largest software exporter Tata Consultancy Services (TCS) on Thursday reported a 0.94 per cent fall in its consolidated net profit for the fourth quarter (Q4) ending March 31.
The company reported a net profit of Rs 8,049 crore for the fourth quarter, as against a profit of Rs 8,126 crore posted in similar quarter last year.
In terms of quarter-on-quarter growth, TCS reported 0.84 per cent dip in its net profit for the quarter under consideration, against a profit of Rs 8,118 crore posted in December quarter.
“Amidst the tumult of the last few weeks, our priority has been to safeguard the health and well-being of our employees while continuing to support our customers’ mission critical activities gfoba/fy. The agility, resilience and adaptability of our operating model were put to the test, and it hos emerged stronger and more proven than ever before. This has further strengthened our customers’ confidence in TCS,” the company’s CEO and managing director Rajesh Gopinathan said.
“The pandemic completely reversed the positive momentum that we had started seeing in some of our biggest verticals in the first half of the quarter. On the positive side, we had very strong deal closures during the quarter. In fact, our order book this quarter is the largest ever, from the time we started reporting the metric,” he added.
The company’s revenue from operations for Q4 came in at Rs 39,946 crore, up 5.09 per cent from Rs 38,010 crore posted in similar quarter last year.
N Ganapathy Subramaniam, chief operating officer & executive director of the IT services major said: “Covid 19 presented us an operational challenge of scale, speed and complexity. Although we have been the pioneers of the location independent agile model, switching a long-established infrastructure model of on organization of over 448,000 employees in a matter of days is pushing the boundaries of location independence as well as agility to their limits. It also required recalibrating the project management methodology and the security posture. The outcome was our secure borderless workspaces framework, which hos now enabled close to 90% of our employees to work remotely and securely.”
For the full year (2019-20), TCS’s net profit was higher by 2.7 per cent at Rs 32,340 crore, while revenue increased 7.1 per cent to Rs 1,56,949 crore.
The Board of the company announced a final dividend of Rs 6 per equity share of Rs 1 each of the company.
Shares of TCS ended 19 points or 1.09 per cent lower at Rs 1,715 on the BSE. While, it closed 0.84 per cent lower at Rs 1,720 on the NSE.

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