The company said revenue in the fourth quarter increased by 3.9% sequentially to $4.97 billion, bettering estimates, and operating margin perked up to 25.4%.
Mumbai- Shares of IT bellwether Tata Consultancy Services (TCS) on Friday rose over 7 per cent to touch a new high of Rs 3,419.80 per share, taking its market capitalisation (m-cap) to over Rs 6.50 lakh crore or around $98 billion.
For the fourth quarter ending March, TCS reported 4.5% growth in net profit to ₹6,925 crore as against ₹6,622 crore during the year-ago period.
India's top software services exporter is more confident about BFSI revenues from North America as client discussions show there is "not much stress left in the system", and this could potentially translate into better client spending through the course of the year, CEO Rajesh Gopinathan told reporters.
"Six industry verticals grew above the average in the fiscal, four of them growing in double digit", said Subramaniam.
"Our view on TCS" sustained financial outperformance gets further reinforced post the management commentary on improved deal signings, broad-based growth performance, and the company's emerging supremacy in digital business. In dollar terms, the company had its highest revenue growth in 14 quarters at 11.7 per cent.
Total employee strength at the end of Q4 stood at 394,998 on a consolidated basis.
Gopinathan said TCS' early investments in digital technologies such as cloud, analytics and big data were paying off as the company remained well-positioned to transform clients' businesses.
V Ramakrishnan, chief financial officer, said: "Disciplined execution delivered an all-time high cash conversion in Q4".
"We stayed geared for higher growth and continued to invest in our people and in the business", he added.
Reliance Securities said, "We are enthused with the IT major's positive growth outlook and stable margin expectations".
On a YoY basis, Continental Europe (+19.1 per cent), United Kingdom (+10.7 per cent) and Asia Pacific (+8.6 per cent) led the growth.
Digital revenue grew 43 per cent in Q4, contributing 24 per cent to the revenue and 35 per cent YoY for the fiscal, accounting for 21 per cent of the revenue. Investors also cheered after TCS announced bonus of 1:1 and recommended a final dividend of Rs29 a share. The BSE IT index jumped 4.8 per cent, the most among BSE sectoral indices, amid the rupee declining to its lowest level in 13 months.
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BlackRock Institutional Trust Company N.A. increased its position in Philip Morris International by 0.4% in the third quarter. Energy stocks also rose as a rally in oil prices continued, bringing crude to the highest level in more than three years.
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As the opening bell rang the price was $11.65 but as the trading finished, the stock receded, wrapping up with a fall of -0.85%. Caesars Entertainment Corporation ( NASDAQ : CZR ) was down -0.85% (-$0.1) to $11.65 and showed a volume of 10.14 mln shares.
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