TCS Reports Strong Financial Performance for Q4 2023
YoY Growth in Net Profit and Revenue
TCS achieved a 2-year-on-year (YoY) growth in consolidated net profit and revenue for the quarter ending December 31, 2023.
Tata Consultancy Services (TCS) released its consolidated financial results for the quarter ended December 31, 2023, as per Indian Accounting Standards (Ind AS) and International Financial Reporting Standards (IFRS). The company posted a net profit of Rs. 11,058 crore, reflecting a 2% YoY growth compared to the corresponding quarter last year. Total revenue witnessed a 4% YoY increase to Rs.
Key Financial Highlights
- Consolidated net profit: Rs. 11,058 crore, up 2% YoY
- Total revenue: Rs., up 4% YoY
- Earnings per share (EPS): Rs., up 2% YoY
- Book value per share: Rs.
Management Commentary
In a statement, TCS' CEO & Managing Director Rajesh Gopinathan expressed optimism about the company's performance. He attributed the growth to strong execution and demand resilience across industries. The company's focus on digital transformation, cloud adoption, and sustainability initiatives continue to drive its growth.
Shareholding Pattern
As of December 31, 2023, the promoter group held approximately 74% of TCS' shares, while public shareholders owned 26%. Among the institutional investors, the Government of India held the largest stake at 11%, followed by Life Insurance Corporation of India at 4%.
Conclusion
TCS' strong financial performance in Q4 2023 reflects the company's resilience and adaptability in a challenging economic environment. Its focus on digital transformation, cloud adoption, and sustainability positions it for continued growth in the future.
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