New deal wins helped India’s largest software exporter TCS report a 4.5 per cent growth in its consolidated net profit at ₹6,904 crore for the March 2018 quarter against ₹6,608 crore in the same period last fiscal.
The Mumbai-headquartered company reported a revenue growth of 8.2 per cent at ₹32,075 crore for the quarter, up from ₹29,642 crore a year ago. “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. The strong exit allows us to start the new fiscal on a confident note. This is our highest incremental dollar growth in our history,” TCS CEO and Managing Director Rajesh Gopinathan said.
The company has declared a dividend of ₹29 per share and its board recommended a 1:1 bonus share issue.
Greater adoption of digital technologies by customers resulted in several large, multi- practice integrated deal wins, TCS said. Digital revenue accounted for 23.8 per cent of overall revenues in the quarter and grew by 42.8 per cent year-on-year.
Strong deal wins and a good pipeline positions TCS very well in the new fiscal, TCS Chief Operating Officer and Executive Director N Ganapathy Subramaniam said.
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