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“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
The country's largest software exporter Tata Consultancy Services (TCS) on Wednesday reported a 22.1% jump in net profit at Rs3,596.9 crore for the March quarter, meeting expectations.
The company's net profit stood at Rs2,945.5 crore reported in the same period a year ago.
Revenue for the fourth quarter ended 31 March 2013 grew by 23.9% to Rs16,430.1 crore as against Rs13,259.3 crore in the year ago period, according to the IFRS reporting.
Announcing the robust numbers here this evening, 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 reimagining businesses globally,” he added.
The company as a policy does not offer guidance.
The company said its net profit margin stood at 21.9% while operating margin rose to 26.5% 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.
For the full fiscal, net profit increased by 30.9% to Rs13,941.4 crore compared to Rs10,651.7 crore in the previous fiscal.
The total revenue for the year jumped 28.8% at Rs62,989.5 crore from Rs48,893.8 crore last year.