Conference Call with Tata Consultancy Services Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.
IT Consulting & Software firm Tata Consultancy Services announced Q4FY23 results: Q4FY23: FY23 Order Book Total Contract Value (TCV) at USD 34.1 billion, Q4FY23 TCV at USD 10 billion with an all-time high number of large deals FY23 revenue at Rs 2,25,458 crore, +17.6% YoY (Constant Currency (CC) : +13.7%) Growth led by North America (+15.3%), UK (+15%), India (+14.6%) Operating Margin at 24.1%, Net Margin at 18.7% Net Income at Rs 42,147 crore, +10% YoY K Krithivasan to take over as CEO and MD from June 1, 2023 Revenue at Rs 59,162 crore, +16.9% YoY (CC: 10.7%) Growth led by UK (+17%), Retail & CPG (+13%) and Life Sciences and Healthcare (+12.3%) Operating Margin: 24.5%, Net Margin: 19.3% Net Income: Rs 11,392 crore, +14.8% YoY Strong Cash conversion: Operating Cash Flow 104.1% of Net Income Net Addition: 821 employees Rajesh Gopinathan, Chief Executive Officer and Managing Director, said: “It is very satisfying to look back at our strong growth in FY 2023, on top of the mid-teen growth in the prior year. The strength of our order book demonstrates the resilience of demand for our services and gives us visibility for growth in the medium term. Krithi and I are working closely to ensure that the leadership transition over the next few months is smooth and seamless to all our stakeholders, and that TCS is well positioned to capture the opportunities ahead.” N Ganapathy Subramaniam, Chief Operating Officer and Executive Director, said: “During Q4 and through the year, we successfully delivered transformation programs of varying size and scale. Cloud and Data continue to generate huge demand both internally from a talent perspective and externally from a solutions point of view. We are embracing AI/ML holistically in our execution methods to leverage the huge data and metrics that we have on our delivery performance over decades, to generate insights and raise the bar on quality and experience to our clients.” Result PDF