The recorded total contract value (TCV) for the quarter was $13.2 billion, but the order book TCV for FY24 reached an all-time high of $42.7 billion.

Indian Stock Market Updates : On Friday, Tata Consultancy Services Ltd. (TCS) released its earnings for the quarter and full year ending on March 31, 2024. The results were largely expected with a few surprises. The IT major asserted that record deal wins and healthy margins contributed to a successful end to FY24.

TCS’s recorded total contract value (TCV) for the quarter was $13.2 billion, while its order book TCV reached an all-time high of $42.7 billion. The company’s total sales for the year rose 3.4% in constant currency terms, or 6.8% on an annual basis, to Rs 2,40,893 crore. Net margins for FY24 came in at 19.3%, while operating margins for the year were 24.6%.

The following are the salient features of TCS’s fourth-quarter results:

* TCS reported revenue of Rs 61,237 crore, up 3.5% YoY and 2.2% in constant currency terms for the quarter. During the reported quarter, India (up 37.9%), the UK (up 6.2%), and manufacturing (up 9.7%) led the growth. TCS’s net margins increased by 100 basis points to 20.3% during the quarter, while its operating margins increased by 150 basis points to 26%.

* TCS’s net profit, which is due to the company’s owners, increased by 9.1% year over year to Rs 12,434 crore.

* Subject to the required clearance, the business proposed a final dividend of Rs 28 per share for the eligible shareholders.

The salient features of the fiscal year 2023–2024 are listed below.
* 62 clients with more than $100 million in band were disclosed by TCS. In the same time frame last year, the figure was sixty. Additionally, the number of clients in the $50 million price range rose by 6 to 139 for the full year.

* As of March 31, 2024, TCS had 6,01,546 total employees, representing 152 different countries, with 35.6% of those employees being female. The attrition rate for IT services was 12.5%.

* The business obtained 5 million competences, and there were 73,000 contextual masters. * The firm recorded a shareholder distribution of Rs 46,223 crore in the form of dividends and buybacks. * The company’s free-cash flow for the quarter was Rs 44,282 crore.

According to K Krithivasan, Chief Executive Officer and Managing Director of Tata Consultancy Services, “We are extremely happy to close Q4 and FY24 on a strong note with the highest ever order book and a 26% operating margin, validating the robustness of our business model and execution excellence.”

“In an environment of global macro uncertainty, we are staying close to our customers and helping them execute on their core priorities with TCS’ portfolio of offerings, innovation capabilities and thought leadership,” he stated.

On Friday, the shares of Tata Consultancy Services (TCS) closed at Rs 4000.30, up 0.45% for the day. For the day, the largest software exporter in the nation had a total market capitalization of about Rs 14.45 lakh crore..

Disclaimer : The above article is meant for informational purposes only, and should not be considered as any investment advice.


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