MUMBAI: Indias top software exporter Tata Consultancy Services (TCS) on Thursday missed analysts forecasts and reported a 0.94 per cent year-on-year decline in profit, and warned that the coronavirus pandemic had completely reversed the positive momentum it saw in the first half of the quarter.TCS reported Rs 8,049 crore profit for the fourth quarter ended March 31.
Analysts in an ET NOW poll had projected the figure at Rs 8,216 crore.Here are key takeaways from TCS Q4 earnings:Coronavirus plays spoilsport:Rajesh Gopinathan, Chief Executive Officer and Managing Director said the pandemic completely reversed the positive momentum the company had started seeing in some of its biggest verticals in the first half of the quarter.On the positive side, we had very strong deal closures during the quarter.
In fact, our order book this quarter is the largest ever, from the time we started reporting the metric, he added.Commentary: As we enter a difficult and uncertain period, our strong balance sheet, best-in-class profitability and the inherent resilience of our business model position us well to navigate the challenges ahead and gain share, said CFO V Ramakrishnan.Final dividend: The company announced a final dividend of Rs 6 per share.Life Sciences/healthcare lead the charge: Revenue growth was led by life sciences - healthcare (16.2 per cent), communications - media (9.3 per cent) and manufacturing (7 per cent).
Retail - CPG grew 4.2 per cent and technology - services grew 3.5 per cent.
BFSI revenue declined 1.3 per cent.Europe top contributor: Growth was led by Europe (11.9 per cent) and the UK (5.4 per cent), latin America grew 3.9 per cent, Asia Pacific grew 3.5 per cent and MEA grew 1.3 per cent.
North America grew 0.2 per cent while India declined 1.9 per cent.Net employee additions: The company added 1,789 employees in the quarter.