Biznextindia : Tata Consultancy Services (TCS) India’s top software exporter has reported a net profit of Rs.8049 Crore in the fourth quarter of 2019-20 financial year. The company had reported a net profit of Rs.8118 crore in the 3rd quarter. Revenue of the company during the fourth quarter has increased marginally to Rs. 39946 Crore. The company has proposed a final Dividend of Rs.6 per share.
In the 2019-20 Financial year, TCS has reported a 2.8% YoY increase in Net profit at 32,340 Crore. Annual Revenue has also increased by 7.2% to Rs.156,949 Crore. The company’s annual revenue in US Dollar terms has crossed the USD 22 billion mark.
“The pandemic completely reversed the positive momentum that we had started seeing in some of our biggest verticals in the first half of the quarter. On the positive side, we had very strong deal closures during the quarter. In fact, our order book this quarter is the largest ever, from the time we started reporting the metric. Organizations across the world are realizing the need for operational and systems resilience. Many of the large deals we signed during the quarter address precisely that need. They are core transformation programs that leverage the power of technology to make our customers’ operations leaner, foster, and more resilient” said Rajesh Gopinathan, Chief Executive Officer and Managing Director.