MUMBAI : Software behemoth Tata Consultancy Services’ (TCS) reported net profit ₹8093 crore in the fourth quarter ending in March down from ₹8118 crore in Q3 missing analyst estimates.
Revenue missed analyst estimates at ₹39,946 crore up 5.1% YoY. For the the year ended March 2020 the company reported annual revenue of ₹156,949 crore up 7.2% YoY and 7.1% in constant currency.
Net margin was reported at 20.2%. As per analyst estimates TCS was expected to report revenue of ₹40317.3 crore and net profit of ₹8159 crore factoring in weakness from March operations globally due to the Covid-19 pandemic.
Rajesh Gopinathan, Chief Executive Officer and Managing Director said, “The pandemic completely reversed the positive momentum that we had