INSUBCONTINENT EXCLUSIVE:
In dollar terms, TCS reported revenue of $4,972 million, up 11.7% year-on-year.TCS is on the cusp of making history
India's biggest outsourcer is close to becoming a 100 billion dollar company in terms of market capitalisation or market value
Shares of TCS today surged by nearly 7 per cent, making investors richer by over Rs 40,000 crore in a day
At end of today's market trading, TCS had a market capitalisation of Rs 6.52 lakh crore, according to BSE data
The rupee weakened past the 66 mark today against the dollar today
Deal wins in the quarter to March helped the Mumbai-headquartered company post its biggest-ever net profit in the quarter
TCS had announced its earnings after market hours on Thursday.TCS posted a net profit of Rs
6,904 crore, beating analysts' average estimate of Rs
TCS, part of salt-to-software conglomerate Tata group, reported Rs 32,075 crore as income from operations, a rise of 8.2 per cent from a
year ago.(: Tata Consultancy Services (TCS) Gives 120% Variable Pay To Employees)Looking ahead, TCS expects a rebound in spending by its key
banking, financial services and insurance (BFSI) clients this financial year
India's top software services exporter is more confident about BFSI revenues from North America as client discussions show there is "not
much stress left in the system," and this could potentially translate into better client spending through the course of the year, said CEO
Rajesh Gopinathan.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 ability to transform comes from our ability to participate right
from the back-end to the front-end and have a full spectrum of solutions." Mr Gopinathan said."TCS delivered a strong set of performance in
Q4 with a beat on dollar revenues and profit," said domestic brokerage Prabhudas Lilladher in a note
And going ahead, "digital remains the key driver for incremental growth for TCS," it added.In dollar terms, TCS reported revenue of $4,972
million, up 3.9 per cent quarter-on-quarter and up 11.7 per cent year-on-year
"We're glad to announce we're back to double digit trajectory on dollar revenue growth," said CEO Gopinathan said.TCS' smaller rival Infosys
Ltd kicked off the earnings season last week with a higher profit and a healthy revenue forecast for the year, though its margin guidance
failed to cheer investors
