TCS profit rises 5.03% in Q4, revenue muted

Tata Consultancy Services (TCS), India’s largest software firm, has posted a 5.03% sequential rise in net profit at ₹11,392 crore in a seasonally weak quarter ended March 31, riding on large deals from across sectors and geographies. However, the IT major reported a muted revenue growth during the quarter as discretionary spends by clients were “on hold”.

In comparison, the Tata Group company had posted a net profit of ₹10,846 crore during the quarter ended December 2022. During the reporting quarter, the company’s revenues rose by a meagre 1.6% to ₹59,162 crore from ₹58,229 crore recorded in the sequential third quarter. This was its slowest constant currency revenue growth in 11 quarters.