India’s largest IT services exporter Tata Consultancy Services (TCS) recorded a 14.6 per cent jump in its net profit for the fourth quarter of 2020-21, which stood at Rs 9,282 crore, over the Q4 net profit of Rs 8,093 crore of the corresponding period.
The company said that the board have recommended a Final Dividend of ₹15 per equity share. The company said its net addition is at 19,388 employees, highest ever in a quarter.
However, there was a nominal increase in its net profit for FY21, at Rs 32,562 crore, which was marginally higher than Rs 32,447 crore of FY20.
The company’s net profit of Rs 9,282 crore for Q4 of FY21 was 6.3 per cent higher than its Q3 net profit of Rs 8,727 crore (for the period ended December 31, 2020).
The company mainly benefited from increased demand for its cloud service during the prevailing Corona virus crisis.
The company said in its statement that its revenue grew 9.4 per cent to Rs 43,705 crore from Rs 39,946 crore in the corresponding period last fiscal.