- Science & Tech
Largest software exporter TCS on Tuesday reported a 4.2 per cent growth in March quarter net profit at Rs 6,608 crore and guided towards a better year even though pressure persists in the U.S and retail sector.
The Tata group company’s net profit for fiscal 2017 grew 8.3 per cent to Rs 26,289 crore.
Total revenue for the quarter grew 4.2 per cent to Rs 29,642 crore, and 8.6 per cent at Rs 1,17,966 crore for the full year under the Ind-AS system.
Newly-inducted CEO and MD Rajesh Gopinathan termed the numbers as a “fairly satisfying in a challenging operating environment” which included political turbulence with protectionist tendencies in its key market and also currency volatilities where the rupee is appreciating.
“We see fiscal 2018 as incrementally positive and are quite confident about the demand outlook that we see. There are a few verticals that have some lingering pressures, primarily coming from the retail segment,” Rajesh, who took over only in February, said.
He, however, did not give a guidance on the revenue front citing company policy.
In what is being seen as representative of the difficulties that the sector faces, TCS’ closest rival Infosys had guided towards a slower 6.1-8.1 per cent dollar revenue growth.