Industry Summary Articles

Tata Consultancy Services reported its consolidated financial results according to IFRS for the quarter and financial year ended March 31, 2017.

- Digital revenues at $ 3 billion for FY17; growing at 29% Y-o-Y

- 200,000+ TCSers gained 500,000+ new Digital competencies in FY17

- Annual FY17 revenues at $17.58 billion; up 6.2%

- Annual FY17 CC Growth: 8.3%; FY17 Volume Growth: 8.5%

- Annual FY17 Net Profit at $3.92 billion; up 6.2% Y-o-Y

- Annual FY17 Cash Flow from Operations at $4 billion; up 13.2% Y-o-Y

- FY17 Q4 Revenues at $4.45 billion up 1.5% Q-on-Q and 5.8% Y-on-Y

- FY17 Q4 Net Profit at $992 million up 5.8% Y-on-Y

Commenting on FY17, Rajesh Gopinathan, CEO and MD said: “FY17 was a year of broad-based growth amidst economic and political turbulence in our key markets. We added $1.4 billion dollars in constant currency revenues during the year and increased our digital revenues sharply as we helped our customers leverage the Digital economy. Our digital business grew at 29% annually with most industries showing double digit growth as we steadily increased the number of customers across different revenue bands.”

Mr. Gopinathan added: “Our clients are looking for integrated offerings as they advance their Cloud agenda and we have a solid pipeline of deals across markets and industries. On the back of digital adoption, Agile, Automation and Cloud are the themes that we are going to market to drive efficiencies and predictable outcomes across our clients Infrastructure, Applications and Business Operations.”

To view the original press release, please click here.

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