Tata Consultancy Services (TCS), India's leading software exporter, announced fourth-quarter results that surpassed profit and revenue expectations. The company benefited from sustained strength in its North American market and a weaker Indian rupee.
Sales for the quarter reached 706.98 billion rupees ($7.63 billion), marking a 9.7% increase. Net profit rose 12.2% to 137.18 billion rupees ($1.48 billion). These figures exceeded analyst projections of 694.94 billion rupees in sales and 136.46 billion rupees in net profit.
TCS reported annualised AI revenue of over $2.3 billion, a significant increase from the previous quarter's $1.8 billion. While the banking and financial services segment showed muted growth, life sciences and manufacturing segments posted stronger gains.
The company's North American market, a significant revenue contributor, saw a 2.5% increase in sales. TCS secured an order book of $12 billion for the quarter, indicating continued customer commitment to technology investments despite macroeconomic headwinds.