TCS Q4FY23 Net profit soared by 15% while revenue surges 17%

Tata Consultancy Services Ltd on Wednesday reported a bigger-than-expected rise in fourth-quarter profit as India’s top IT exporter saw firm demand for digital services despite a challenging macroeconomic backdrop. Net profit up by 14.8% at INR 11,392 crores while revenue surges 16.9% to INR 59,162 crores. TCS has announced a final dividend of INR 24 per share.

Commenting on the result, Mr RajeshGopinathan, Chief Executive Officer and Managing Director of TCS said: “It is very satisfying to look back at our strong growth in FY 2023, on top of the mid-teen growth in the prior year. The strength of our order book demonstrates the resilience of demand for our services and gives us visibility for growth in the medium term. Krithi and I are working closely to ensure that the leadership transition over the next few months is smooth and seamless to all our stakeholders, and that TCS is well positioned to capture the opportunities ahead”.