Info-tech

TCS to announce FY20 results on April 16

PTI | Updated on April 10, 2020 Published on April 10, 2020

Software services firm Tata Consultancy Services (TCS) on Friday said it will announce its fourth-quarter and FY20 results on April 16.

“A meeting of the Board of Directors of TCS Ltd is scheduled to be held on Thursday, April 16, 2020, inter alia to approve...the audited financial results of the company under Indian Accounting Standards (Ind AS) for the year ended March 31, 2020,” TCS said in a regulatory filing.

The board will also recommend a final dividend, if any, for the fiscal for the approval of the shareholders at the ensuing 25th Annual General Meeting, it added.

Wipro will announce its fourth quarter and FY20 earnings on April 15.

There are speculations that companies could look at delaying their March quarter earnings announcements, given the ongoing lockdown following coronavirus outbreak.

Markets regulator Sebi has also given relaxation of 45 days to companies for filing fourth-quarter results and one-month extension to file results for 2019-20.

Besides, relaxation of one month has been given for filing quarterly corporate governance reports and three weeks each for shareholding pattern and statement of investor complaint reports.

Operations of businesses across the world have been impacted by the coronavirus outbreak that has claimed thousands of lives.

In India, 206 deaths have been reported, while there were 6,039 cases of Covid-19.

The government, on March 24, had announced a complete lockdown in the country for 21 days to contain the spread of coronavirus infection.

Most individuals have been asked to work from home to ensure business continuity and only skeletal staff has been allowed to be on-premises to run critical operations at IT and IT-enabled services organisations.

In a report, Sharekhan by BNP Paribas had said the January-March quarter is expected to be a weak quarter for Indian IT companies, owing to lower billings from lockdown measures in western countries (including the US and Europe) and India in wake of COVID-19 outbreak.

“Though management of IT companies has restrained to quantify the potential impact of the Covid-19 breakout on the financials, there has definitely been disruption in service delivery and execution due to travel restrictions, client’s confidentiality clauses, and work-from-home (WFH) advisories since mid-March,” it had said.

Published on April 10, 2020

A letter from the Editor


Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.