TCS Q4 net grows 4.2% to Rs 6,608 crore

Tata Consultancy Services Ltd, India`s top software services exporter, reported a 4.2 percent rise in quarterly net profit on Tuesday but missed analysts` estimates.

Mumbai: The country's largest software exporter TCS on Tuesday reported 4.2 per cent growth in net profit at Rs 6,608 crore for the quarter ended March 2017.

The company had reported net profit of Rs 6,340 crore in the same period last fiscal as per Indian accounting norms.

The Tata Group company, which accounts for more than 60 per cent of the group's overall profit, reported a revenue growth of 4.2 per cent at Rs 29,642 crore for the said quarter, up from Rs 28,449 crore a year earlier.

"2016-17 was a year of broad-based growth amid economic and political turbulence in our key markets. We added USD 1.4 billion in constant currency revenues during the year," TCS CEO and MD Rajesh Gopinathan said.

He added that the company's digital business grew 29 per cent annually to USD 3 billion, with most industries showing double-digit growth.

At the end of the fourth quarter, digital revenues were at 17.9 per cent, with a sequential growth of 7.6 per cent.

For the entire 2016-17, TCS saw its net profit growing 8.3 per cent to Rs 26,289 crore while revenue was up 8.6 per cent at Rs 1,17,966 crore.

During the January-March 2017 quarter, TCS added 20,093 employees (gross) while on a net basis, the addition was 8,726, taking the overall employee strength to 3,87,223.

Attrition rate was at 11.5 per cent on LTM basis.