TCS Q4 FY2021 results : Tata Consultancy Services Q4 net income up by 15.6% to $1.26bn

TCS Q4 FY2021 results : Tata Consultancy Services (TCS) has registered a net income of $1.26 billion (INR92.4 billion) for the fourth quarter of the fiscal year 2021 (Q4 FY2021) that ended 31 March 2021, an increase of 15.6% compared to $1.09 billion reported in Q4 FY2020.

The Indian IT services company had revenue of $5.98 billion for Q4 FY2021 compared to $5.44 billion in the same quarter of the previous fiscal year, which marks an increase of 10% year-over-year (YoY).

Tata Consultancy Services said that all its verticals delivered good sequential growth, however, two of them continued to be behind prior year level.

The company said that its banking, financial services and insurance (BFSI) vertical delivered 13.3% YoY in revenue for Q4 FY2020. The retail and CPG unit saw its revenue for the reported quarter go down by 0.9% YoY, while the life sciences and healthcare vertical was up by 19.3% YoY.

In manufacturing, Tata Consultancy Services saw its Q4 FY2021 revenues up by 1.3% YoY, while the technology and services vertical had a 3.9% growth YoY. The communications and media vertical had a 4% decline YoY in the reported quarter, as per the TCS Q4 FY2021 results.

TCS Q4 FY2021 results : Tata Consultancy Services reports 15.6% increase in Q4 net income at $1.26bn. Photo courtesy of Naveen.kumar.kotta/Wikipedia.org.

As per the TCS Q4 FY2021 results, the company added 19,388 new employees during the reported quarter, which is the highest ever net addition in a quarter. The headcount for Tata Consultancy Services at the end of the fourth quarter stood at 488,649.

For FY 2020-21, the net income of Tata Consultancy Services was $4.51 billion compared to $4.54 billion for the year that ended 31 March 2020.

The TCS FY 2020-21 revenue was $22.17 billion, an increase of 0.7%, compared to $22.03 billion for the previous fiscal year.

Tata Consultancy Services CEO comments on TCS Q4 FY2021 results

Commenting on TCS Q4 FY2021 results, Rajesh Gopinathan – CEO and Managing Director said: “Our investments over the last decade in building newer capabilities, and in research and innovation, position us well for the multi-year technology services opportunity ahead.

“While we continue to dominate in our traditional areas of strength, we are making good progress in gaining share in the growth and transformation opportunity. Our focus going into FY 22 will be to engage with clients in their growth agenda, propelled by innovation and leverage of collective knowledge.”