TCS m-cap crosses $100 billion mark; company thanks employees, customers for milestone

TCS reported a revenue growth of 8.2 percent at Rs 32,075 crore for the three months to March.

New Delhi: Tata Consultancy Services (TCS) touched the USD 100 billion market capitalisation mark intra-day, but ended the session a tad lower. TCS shares closed at Rs 3415.20 apiece pushing its m-cap to 6,53,767.50.

“We are indeed delighted and thankful to our employees and customers who have been instrumental in achieving this milestone - what is exciting for us is the whole business 4.0 journey and the great opportunity to be a digital partner of choice to our customers in their growth and transformation journey”,  Rajesh Gopinathan, CEO and MD, TCS said.

In its last closing on Friday TCS shares surged over 7 percent, adding Rs 41,301 crore to its market valuation, after the company reported a 4.4 percent rise in March quarter net profit and guided towards a better show in fiscal 2019.

The Tata group flagship, which contributes around 85 percent of the group's profit, reported a revenue growth of 8.2 percent at Rs 32,075 crore for the three months to March. In dollar terms, the company had its highest revenue growth in 14 quarters at 11.7 percent.

It also announced a 1:1 bonus of shares and a dividend of Rs 29 a share, taking the total payout to shareholders at Rs 50 for the year. It has given out close to Rs 26,000 crore to the shareholders in dividends and bonuses in the year.

With PTI Inputs