TCS Q4 net up 7.8% y-o-y at ₹8,428 cr

The country’s largest IT services firm TCS reported a 7.8 per cent year-on-year growth in profit for the fourth quarter ended March 31, 2019 at ₹8,428 crore compared with ₹7,815 crore amid a global economic slowdown due to Covid-19. Net profit fell 0.85 per cent to ₹8,049 crore during the January-March quarter compared with ₹8,118 crore in the October-December quarter.

Rajesh Gopinathan, Chief Executive Officer and Managing Director, said the company is going through a storm, which will get worse before it gets better. “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,” he said.