By Tricity News
Chandigarh 19th April:- Tata Consultancy Services (BSE: 532540, NSE: TCS), the leading IT services, consulting and business solutions firm reported its consolidated financial results according to Ind AS and IFRS, for the quarter and the financial year ended as on March 31, 2018.
Commenting on the Q4 performance, Rajesh Gopinathan, CEO and MD, said that strong demand in digital across all industry verticals and large transformational deal wins have made this one of our best fourth quarters in recent years. The strong exit allows us to start the new fiscal on a confident note.
Gopinathan added that as customers move forward in their Business 4.0 journeys, TCS is helping them leverage digital technologies to drive their growth and transformation agendas. The multiple mega-deals that we won this year are evidence that TCS is their preferred partner in such strategically important initiatives. By pioneering methodologies like the Machine First Delivery Model (MFDM™) and Location Independent Agile, we are upholding the spirit of innovation and leading change that has been a hallmark of TCS’ fifty year history.
N. Ganapathy Subramaniam, Chief Operating Officer & Executive Director, said that we are executing on our Business 4.0 strategy and that is paying off very well. Our participation in our customers’ digital spending is expanding ahead of the industry. Six of our industry verticals grew above the company average in FY 18, four of them growing double digits. Strong deal wins and a good pipeline positions us very well in the new fiscal.
V. Ramakrishnan, Chief Financial Officer, said that disciplined execution delivered an all-time high cash conversion in Q4. We stayed geared for higher growth, and continued to invest in our people and in the business. With revenue growth improving, and our digital business scaling up, we expect our margins to remain in a stable range.