TCS meets forecast, net profit rises 22% in Q4

Helped by all-round business growth, country's largest software exporter Tata Consultancy Services on Wednesday reported 22.1 per cent jump in net profit at Rs 3,596.9 crore for the March quarter, meeting expectations.

The company's net profit stood at Rs 2,945.5 crore reported in the same period a year ago.

Revenue for the fourth quarter ended March 31, 2013 grew by 23.9 per cent to Rs 16,430.1 crore as against Rs 13,259.3 crore in the year ago period, according to the IFRS reporting.

TCS Managing Director and Chief Executive N Chandrasekaran said, "We have delivered a year of strong growth with all markets and industry segments growing in double digits. We remain confident that the new fiscal will bring greater opportunities as technology plays an increasing role in re-imagining businesses globally."

The company as a policy does not offer guidance.

The company said its net profit margin stood at 21.9 per cent while operating margin rose to 26.5 per cent in the reporting quarter.

"TCS Q4 net profit came in line with expectations...TCS Outlook for FY14 is better than FY13 with a good deal pipeline and strong performance expected across sectors," said Gautam Sinha Roy, VP Equities, Motilal Oswal Securities Ltd.

For the full fiscal, net profit increased by 30.9 per cent to Rs 13,941.4 crore compared to Rs 10,651.7 crore in the previous fiscal.

The total revenue for the year jumped 28.8 per cent at Rs 62,989.5 crore from Rs 48,893.8 crore last year.

TCS shares closed 1.73 per cent down at Rs 1,459.20 apiece on the BSE.