India's top IT outsourcing firm, on Thursday reported a 4.4 per cent growth in its consolidated net profit at '6,904 crore for the quarter, helped by large deal wins. The company also paid a dividend of Rs 29 per share.
The company's net profit and revenue in the quarter beat Street estimates, while margin growth was slightly below the industry's expectations, owing to cross-currency volatility.
Mr Gopinathan said TCS' early investments in digital technologies such as cloud, analytics and big data were paying off as the company remained well-positioned to transform clients' businesses. "The multiple mega-deals that we won this year are evidence that TCS is their preferred partner in such strategically important initiatives".
"Six industry verticals grew above the average in the fiscal, four of them growing in double digit", said Subramaniam.
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Consolidated total income of TCS increased 4 per cent QoQ and 7.93 per cent YoY to Rs 33,069 crore in Q4FY18.
"Our full year growth has been lower than it has been in the recent past but our Q4 growth gives us optimism that we are back on to double-digit growth", CEO Rajesh Gopinathan told reporters after announcing quarterly results on Thursday. In dollar terms, the company had its highest revenue growth in 14 quarters at 11.7 per cent.
With net addition of 4,118 techies in Q4 and 7,775 for the fiscal, the company's headcount increased to 3,94,998 at the end of March 31 from 390,880 quarter ago and 387,223 year ago.
V Ramakrishnan, Chief Financial Officer, said: "disciplined execution delivered an all-time high cash conversion in Q4".
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TCS has focused on internal talent development at scale, making large investments in a digital learning platform that empowers employees to acquire new skills and stay relevant at a time of enormous technology change, it said. We stayed geared for higher growth, and continued to invest in our people and in the business.
From a geographical perspective, the overall growth was led by Continental Europe, where revenue grew 19.1 per cent, United Kingdom revenues were up 10.7 per cent, while in Asia Pacific and North America growth was 8.6 per cent and 4.9 per cent respectively.
"The company's growth outlook is improving from large deal wins and digital share gains". Digital engagements contributed 23.8 per cent of revenue in Q4, a growth of 42.8 per cent YoY.
"Consolidated net profit for the fiscal under review (FY 2018) declined 1.8 per cent annually to Rs 25,826 crore from Rs 26,289 crore in fiscal 2016-17", it said in the filing.
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