Tuesday, 18 April 2017

Moneycontrol news:Apr 18, 2017 by Capital Builder

TCS posts Q4 profit at Rs 6,608 cr, revenue and margin miss estimates

TCS lost 1.3 percent in revenue and 40 bps in margin during Q4 due to currency fluctuation.

Moneycontrol NewsCountry's largest IT services exporter Tata Consultancy Services' fourth quarter (January-March) earnings were mixed as profit fell 2.5 percent sequentially to Rs 6,608 crore on lower-than-expected growth in topline.Revenue during the quarter declined 0.3 percent to Rs 29,642 crore QoQ, dented by subdued growth in key segments like BFSI and retail.However, revenue in dollar terms increased 1.5 percent to $4,452 million compared with previous quarter and grew 1 percent in constant currency.TCS lost 1.3 percent in revenue and 40 bps in margin during Q4 due to currency fluctuation, said Rajesh Gopinathan, CEO and MD.Profit was expected at Rs 6,338 crore on revenue of Rs 29,864 crore for the quarter, according to average of estimates of analysts polled by CNBC-TV18.


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