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Tuesday, January 25, 2022

Even after Corona, TCS reported strong profits, 15% increase in profit of country’s largest IT company

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TCS has benefited from the boom in digital services. The company’s consolidated operating margin in the March quarter increased by 2 basis points to 26.8 per cent over the previous quarter.

TCS’s better quarterly results

The country’s largest IT company TCS has made a strong profit of 15 percent even after Corona. The consolidated net profit of the company increased by 14.9 per cent to Rs 9246 crore in the March quarter. In fact, there has been a sharp increase in the demand for digital services during the Corona period, whose benefits have been seen on the company’s results.

Apart from net profit, the company’s revenue has also increased. The company’s revenue has registered a growth of 9.4 percent during this period and has reached Rs 43,705 crore. The company has also announced a final dividend of Rs 15 to the shareholders with the results.

Such increased profits

Ever since Corona started last year, there has been a lot of growth in digital services in the country. TCS has benefited from the boom in digital services. The company’s consolidated operating margin in the March quarter increased by 2 basis points to 26.8 per cent over the previous quarter. It was 170 basis points higher than the same quarter a year ago. Market experts were hoping that the company’s profits would be better. However, before the result, there was a decline in the company’s stock. TCS shares closed at a loss of 2.17 per cent in Monday’s trading session.

Management is satisfied with the performance

Even after Corona, the company’s management is satisfied with such performance of the company. TCS CEO CO CO N Ganapathi said in a BSE filing that it was a good thing that the company ended FY 2021 with better performance on the revenue and margin front. Apart from this, during this quarter the company has also won a deal worth $ 9.2 billion, which is the highest in terms of orders for any quarter. TCS ‘consolidated revenue grew 4.6 per cent to Rs 1.6 lakh crore and profit was Rs 33,388 crore in the financial year ended in March.

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Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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