TCS Q4 Net Profit Plummets 30%

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Tata Consultancy Services has recorded a 30.7 per cent fall in net profit for the fourth quarter ended March 31, 2015, by a one-off bonus paid to employees, cross currency-movements and overall weakness in key sectors.

“The very fact that TCS is the only company openly talking about revenues generated through Cloud is a positive sentiment for the company as well as the industry. However, we are not sure about the performance of TCS iON (its IT-as-a-Service platform) and if it will be able to compete with Oracle, SAP and Ramco,” said Sanchit Vir Gogia, CEO, Greyhound Research.

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