India’s biggest IT services provider Tata Consultancy Services (TCS) on Thursday reported a 0.94 per cent fall in its consolidated net profit of Rs 8,049 crore in the quarter ended March 31, due to lower other income, higher finance cost and coronavirus pandemic led lockdown has hit its earnings to some extent and reversed momentum for the company.
Consolidated revenue of the company increased 5 per cent on a yearly basis to Rs 39,946 crore from Rs 39,854 crore in the previous quarter.
The company announced final dividend of Rs 6 per equity share which shall be paid on the fourth day from the conclusion of the annual general meeting, according to its stock exchange filing.
Rajesh Gopinathan, chief executive officer and managing director, said, “The pandemic completely reversed the positive momentum that we had started seeing in some of our biggest verticals in the first half of the quarter. On the positive side, we had very strong deal closures during the quarter. Our order book in this quarter was the largest ever from the time we started reporting the metric.”
