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Monday, 3 May 2021

TCS Q4 net rises to Rs9,246 cr, revenue at Rs43,705 cr

  • Tata Consultancy Services, a leader in providing IT services, consulting and business solutions globally, reported consolidated profit of Rs9,246 crore for fiscal fourth quarter ended 31 March 2021 a 6.3 per cent sequential growth.
  • Consolidated revenue for the quarter grew 4 per cent to Rs43,705 crore on the back of large deals, a weak rupee, and recovery in demand.
  • Revenue in dollar terms grew by 5 per cent sequentially to $5,989 million in the quarter ended 31 March 2021, against 5.1 per cent growth seen in previous quarter.
  • Revenue growth in constant currency terms was higher at 4.2 per cent QoQ against 4.1 per cent in the previos quarter.
  • “The investments over the last decade in building newer capabilities, and in research and innovation, position us well for the multi-year technology services opportunity ahead. While we continue to dominate in our traditional areas of strength, we are making good progress in gaining share in the growth and transformation opportunity,” Rajesh Gopinathan, chief executive officer and managing director, said.
  • The company’s board proposed a final dividend per share of Rs15 per share
  • “I am pleased to note that in FY 21, leading organizations partnered with TCS in their growth and transformation journeys. Many of them benefited from our refreshingly different consultative approach to shaping, contracting, executing, and measuring the success of transformation programs, always holding ourselves accountable for the results,” N Ganapathy Subramaniam, chief operating officer and executive director, said.
  • “I am very pleased with our performance in Q4. This caps three quarters of consistently robust performance in a pandemic year, and gives us a strong exit from FY 21. Our Q4 margins are a validation of our strong belief that it is possible to win mega-deals, post industry-leading growth, continue to invest in our people and in newer capabilities, and still deliver industry-leading profitability. All the investments that we have been making over the years position us strongly to expand our footprint in the large growth and transformation opportunity,” V Ramakrishnan, chief financial officer, said.
  • TCS said all its business verticals showed good sequential growth, while a a couple of these continued to lag prior year level – BFSI (+7% QoQ, +13.3% YoY), Retail and CPG (+4% QoQ, -0.9% YoY), Life Sciences and Healthcare (+3.8% QoQ, +19.3% YoY), Manufacturing (+3.9% QoQ, +1.3% YoY), Technology & Services (+2.8% QoQ, +3.9% YoY) and Communications & Media (+1.8% QoQ, -4% YoY).
  • On a full year basis, Life Sciences and Healthcare (+17.1%), BFSI (+2.4%) and Technology & Services (+0.2%) showed growth while the rest continue to be below prior year levels.
  • Growth was led by major markets, including Continental Europe (+8.5% QoQ, +11.7% YoY), North America (+3.9% QoQ, +5.9% YoY), and UK (+3.4% QoQ, +1% YoY). Other markets that grew well included the Middle East & Africa (+4.2% QoQ, +10.6% YoY), India (+2.8% QoQ, +11.2% YoY), Latin America (+2.5% QoQ, +1.5% YoY), and Asia Pacific (+1% QoQ, +1.5% YoY).
  • On a full year basis, with the exception of Continental Europe which grew +5.5%, all other markets continue to be in negative territory compared to the prior year.
  • TCS said growth and transformation services, driven by clients continuing on their multi-horizon transformation journeys, saw strong demand. Advisory and design services continue to gain traction across business stakeholders. There was robust growth across the board, led by Cloud Platform Services, Enterprise Application services, Cyber Security & Analytics.
  • The company said there is a strong rebound in transformation services as companies move from crisis management to adapting to new beginnings.
  • As of 31 March 2021, TCS has applied for 5,879 patents, including 245 applied during the quarter, and has been granted 1,850 patents.
  • In Q4, TCS added 19,388 employees to its rolls on a net basis, its highest ever net addition in a quarter. The total headcount stood at 488,649, a net addition of 40,185 during the year. The workforce continues to be young and very diverse, comprising 154 nationalities and with women making up 36.5% of the workforce.
  • TCS’ organic talent development initiatives continued to deliver industry-leading outcomes. Employees logged 43 million learning hours in FY 2021, resulting in over 379,000 employees getting trained on multiple new technologies, and over 457,000 trained on Agile methods. The company continues to be the employer of choice, with industry-leading talent retention. IT Services attrition rate (LTM) was at 7.2 per cent.“With the second wave of the pandemic upon us, our top priority is once again to secure the health and personal wellbeing of our workforce across the world. We are looking at ways to expedite vaccinations for eligible TCSers wherever local regulations allow it, and in the meantime, urge everyone to stay safe, step out only if necessary, wear masks and practice physical distancing,” said Milind Lakkad, chief HR officer. Source: https://www.domain-b.com/

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