TCS Posts Marginal QoQ Growth in Q4
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TCS, the Indian IT major, today released its Q4FY14 and year ended performance after market hours. It reported a good performance for the financial year end, while its March quarter performance showed a marginal sequential growth on both revenue and net proft front.
On sequential basis, TCS reported a revenue growth of 1.2% to Rs 21551 crore. The bottomline for the same period grew by 0.5% to Rs 5357.6 crore. On sectoral basis, the BFSI and Media sector revenue increased marginally, while the revenue from retail and manufacturing vertical reported a drop in numbers on sequential basis. Other income increased by 6% to Rs 721 crore on account of increase in foreign exchange gains.
The company showed a considerable growth on yearly basis. Its topline and bottomline grew by 30% to Rs 81809 crore and 38% to Rs 19164 crore respectively. Its BFSI vertical showed the highest growth on year-on-year basis, increased by 29% to Rs 9249 crore. Its other verticals such as manufacturing, retail and media, too reported a considerable growth during the year. On geographical front, the growth was led by Europe market, while UK and North America showed an average growth for the financial year.
Further, backed by a strong performance during the financial year, the operating and net margins of the company expanded by 211 basis points to 30.75% and 133 basis points to 23.43% respectively.
Commenting on the FY14 performance, N. Chandrasekaran, CEO and MD of TCS said, “We have delivered a strong growth, expanded our presence in the newer markets like Europe during the past 12 months.” He also added, “our strategic investments in Digital Technologies are providing a compelling value proposition as well as helping us anticipate and shape new market trends successfully”. Commenting on the financial year 2014-15, he added “we are upbeat that the next 12 months will bring many more opportunities for growth across multiple industries and markets. TCS also announced a final dividend of Rs 20 per equity share.”