India’s largest IT services company Tata Consultancy Ltd posted its results for Q4 FY22 on April 11, 2022.
The company reported a 7.2% YoY jump in its consolidated PAT which came in at Rs 9,959 crore against Rs 9,282 crore in the corresponding quarter in FY21. On a sequential basis, TCS reported a marginal increase of 1.5% in its PAT which grew to Rs 9,959 crore during the quarter
TCS closed the financial year 2022 with its highest ever incremental revenue addition and an all-time high order book.
TCS’ revenue from operations remained largely flat on a QoQ basis, while it increased 15.7% YoY to Rs 50,591 crore. Despite nearly a Rs 5,000 YoY jump in its employee benefit expenses, the company reported an increase in its attrition rate. This rate climbed to 17.4% from 11.9% in the quarter ended on December 31, 2021.
The company has made significant gains after the global economy reopened amid a high demand for cloud services, IoT, 5G, cyber security, and data analytics. TCS reported its total income for the quarter jumped to Rs 51,572 crore from Rs 50,090 crore in the previous quarter and Rs 44,636 crore in the previous year.
TCS’ stock closed in the green at Rs 3,699.00 per share, up by 0.36% on April 11, 2022 ahead of its quarterly results.
The company also announced a final dividend payout of Rs 22 per share with a face value of Rs 1 each.
Rajesh Gopinathan, Chief Executive Officer and Managing Director, said that the company closed FY 22 on a strong note. The company witnessed mid-teen growth and adding the maximum incremental revenue ever. Along with an all-time high order book provide a strong and sustainable foundation for continued growth ahead.
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Research Analyst: Bavadharini KS