TCS Q4 Results Highlights: Tata Group’s IT giant reports slowest revenue growth in 4 years; US tariff hurt client deals

TCS Q4 Results LIVE: Infosys ADR drops over 4% to $16.97 on NYSE after IT major TCS reported Q4 results. American Depositary Receipt (ADR) is a tool for foreign and multinational companies to trade on US stock markets, just like regular shares of US companies. In theory, an ADR is similar to a special certificate issued by a US bank.

TCS Q4 Results LIVE: "We had spoken about improving market sentiments and early signs of discretionary spend revival in January. This was not sustained due to many of the discussions around tariffs," TCS CEO K Krithivasan said in a press conference. "We are observing delays in decision-making and project-starting with respect to discretionary investments."

Krithivasan said the uncertainty was likely to settle over the "next few months" and he expects fiscal 2026 to be better than the prior year. The comments came a day after Trump said he would temporarily lower the hefty duties imposed on dozens of countries while ramping up pressure on China.

TCS Q4 Results LIVE: Clients continued to scale up their investments in AI and generative AI, TCS said in a release Thursday. “We gained significant traction for our GenAI and Agentic AI services and solutions across industries and markets,” the company said.

TCS Q4 Results LIVE: TCS Chief financial officer Samir Seksaria said in a statement that the company had delivered profitability in what was a "very challenging environment".

"We delivered robust profitability and cash flows this quarter in a very challenging environment without compromising on the right investments in our people, innovation and infrastructure for long-term value creation," Seksaria added.

TCS Q4 Results LIVE: Due to the uncertainty, the decision on the wage hike to be taken during the year, in tandem with the demand environment. The quantum of the hike to be decided then, Milind Lakkad, Chief HR Officer said. 

North America will remain the home market for us for the foreseeable future. Our focus on North America will continue, says CEO K Krithivasan.

TCS Q4 Results LIVE: From a vertical perspective, the consumer sector could see some impact. We saw the US consumer confidence index going down, so there would be some impact on the retail side, including travel and hospitality. Another sector that has been impacted is auto. I see maximum impact in these two sectors. BFSI seems to be okay, with some softness in insurance, said CEO K Krithivasan.

FY26 will be a better year than FY25, said CEO K Krithivasan in a press conference today post the TCS Q4 results for FY25.

Commenting on the demand environment, the CEO said till February they were quote optimistic for the quarter, however, some uncertainty was seen in March in the form of some project delays and decision making.  He added that there has not been any major project cancellations.

“We believe over the next few months this uncertainity should settle down,” Krithivasan added.

TCS Q4 Results LIVE: Ms. Aarthi Subramanian, who most recently served as Group Chief Digital Officer at Tata Sons and has been a Non-Executive Member of the TCS Board, has been appointed President and Chief Operating Officer of Tata Consultancy Services. With this appointment, she will also join the TCS Board as an Executive Director, effective May 1, 2025.

Mr. Mangesh Sathe, formerly the Chief Executive Officer of Tata Strategic Management Group (TSMG) at Tata Sons, has been appointed as Chief Strategy Officer of Tata Consultancy Services, effective May 1, 2025. In his new role, he will also lead the Global Consulting Practice and oversee the Mergers & Acquisitions (M&A) functions of the company.

TCS Q4 Results LIVE: “Our trainee onboarding in FY25 was 42,000 as planned. We won the Enterprise-Wide Top Employer Certification from the Top Employers Institute. This milestone builds on TCS’s achievements as a Global Top Employer for 2025, marking an unbroken record of receiving this distinction over a decade. We continue to enjoy the pride of place as the employer of choice, and the industry-best retention rate by prioritizing a culture of professional and personal growth, wellbeing, and purpose-driven engagement for our associates," Milind Lakkad, Chief HR Officer said.

TCS Q4 Results LIVE: Barring North America, which is a major market for TCS, all other regions saw growth in March quarter as well as in FY25. Revenue contribution from India jumped sharply.

TCS Q4 Results LIVE: As on March 31, 2025, the company applied for 8,816 patents, including 267 applied during the quarter, and has been granted 4,820 patents including 235 granted during the quarter.

TCS Q4 Results LIVE: “In FY25, our disciplined execution and operational rigor stood out again, as we defended our industry-leading margins while continuing with our investments in talent and capability building. We delivered robust profitability and cash flows this quarter in a very challenging environment without compromising on the right investments in our people, innovation and infrastructure for long-term value creation,” said Samir Seksaria, Chief Financial Officer.

In terms of industry-wise growth, regional markets and others saw a 22.5% jump while the BFSI segment also saw 2.5% growth on a YoY basis. Lifesciences and healthcare, along with communications and media dipped 5.6% and 9.8%, respectively. 

"We are pleased to cross the $30 Billion in annual revenues and achieve a strong order book for the second consecutive quarter. Our expertise in AI and Digital Innovation, coupled with the unmatched knowledge of customer context and global scale makes us the pillar of support for our customers in this environment of macroeconomic uncertainty. We remain committed to staying close to our customers and helping them achieve their core priorities,” said K Krithivasan, Chief Executive Officer and Managing Director.

TCS Q4 Results LIVE: IT major TCS posted a 6% YoY growth in FY25 revenue, led by strong demand in regional markets. Here are the top highlights:

• FY 25 Revenue at ₹255,324 crore; up 6% YoY and 4.2% in CC terms
• Growth led by a strong 37.2% YoY increase in regional markets
• Energy, Resources and Utilities (+5.1%), Manufacturing (+2.9%) among industry verticals that drove growth
• Strong TCV performance at $39.4 billion
• IOT/DE, Enterprise Solutions and AI.Cloud led the growth among Service Lines; Seeing strong and increasing traction in AI-adoption

TCS Q4 Results LIVE: Here are some of the top highlights of the Q4 FY25 earnings:

• Revenue in CC terms at 2.5%; growth led by Regional Markets(+22.5%), ERU (4.6%), and BFSI (+2.5%) YoY
• Operating Margin at 24.2%
• Net Margin at 19.0%
• Strong Cash conversion: Operating Cash Flow at 125.1% of net income
• Record Q4 TCV at $12.2 billion; Book-to-bill ratio of 1.6

TCS Q4 Results LIVE:IT services’ attrition was at 13.3% for the last twelve months, TCS posted in an exchange filing today. This was slightly higher than 13% as of the December 2024 quarter.

TCS’ workforce stood at 607,979 as of March 31st. The employee base has 35.2% women. Year to date, TCSers have clocked 56 million learning hours and acquired 5.2 million competencies, the company said.

TCS Q4 Results LIVE: TCS said in an earnings filing today that it crossed $30 billion revenue milestone in FY25. Meanwhile, its strong order book reinforces confidence in long-term resilience.

TCS Q4 Results LIVE: At the Board Meeting held today, the Directors have recommended a Final Dividend of ₹30 per Equity Share of INR 1 each of the Company which shall be paid/dispatched on the fifth day from the conclusion of the 30th Annual General Meeting, subject to approval of the shareholders of the Company, TCS said in a filing.

TCS Q4 Results LIVE: TCS reported a 1.6% YoY dip in consolidated profit to ₹12,224 crore in the March 2025 quarter as against ₹12,434 crore posted in the same quarter last year. Meanwhile, its revenue from operations climbed 5.29% YoY to ₹64,479 crorein the fourth quarter of FY25 crore from ₹61,237 crore in the preceding quarter last year.

TCS Q4 Results LIVE: Here is a look at big deals bagged by TCS in Q4 FY25

• Cumberland Building Society (BFSI)
• Coop Denmark (Consumer and Retail)
• Northern Trust (BFSI)
• Vantage Towers (Telecom)
• DNB Bank ASA (BFSI)
• Salesforce (Technology and Services)
• UPM (Energy and Utilities)
• Muscat Clearing and Depository (BFSI)

With recovery in discretionary spend less visible, the spotlight will be back on larger deals. According to JM Financial, TCS (Coop Denmark, Northern Trust) and Wipro (Phoenix Group) have likely done better this quarter among large-caps.

TCS Q4 Results LIVE: After Trading Hours – Earnings Release

• Tata Consultancy Services Limited will announce its results for the Fourth Quarter of FY 2025, ended March 31, 2025, on Thursday, April 10, 2025, after market trading hours.

17:30 hrs IST – Press Conference

• The leadership team will address the media in a press conference at 17:30 hrs IST (20:00 hrs SST/HKT, 12:00 hrs UTC, 08:00 hrs US ET). The interaction will be telecast live on various business news channels and streamed live on TCS' website and YouTube channel.

19:00 hrs IST – Earnings Conference Call

• The company will also host an earnings conference call at 19:00 hrs IST, during which the leadership team will discuss financial performance and take questions.

Here are six key things investors need to watch out for in TCS' management commentary:

1) Client budgets for CY25

2) Impact on client decision making especially in manufacturing and industrial sectors due to new policies and tariffs by US government

3) Pace of recovery of discretionary spends and whether they are seeing green shoots ex-BFSI

4) Fresher and lateral hiring plans for FY26

5) Traction in BFSI

6) Pricing pressure and impact on volumes due to Gen AI led automation

Source: ICICI Securities

TCS Q4 Results LIVE: Demand outlook is status quo with no material deterioration in demand due to recent policy changes and tariffs applied by the US government. CY25 client budgets are flat with a positive disposition. We expect deal TCV to be between USD 7bn to 9bn, in line with the quarterly average run-rate. The pipeline is shaping up well, said ICICI Securities.

TCS Q4 Results LIVE: TCS has declared 88 dividends since October 28, 2004. In the past 12 months, TCS has announced dividends amounting to ₹124 per share, taking its dividend yield to 3.82%, according to Trendlyne data. The last dividend TCS announced was for ₹66 per share, with the record date for January 17.

TCS Q4 Results LIVE: Expect TCS to report flat QoQ CC growth while USD revenue growth may drop by 0.5% QoQ due to weak demand and moderation in BSNL numbers. Expect TCS to report flat QoQ margin due to investments in business and promotions. This should offset gains from cost moderation in BSNL deal.

TCS Q4 Results LIVE: According to brokerage Motilal Oswal Financial Services most large-cap IT stocks are trading at 5-year average PE multiples, and further de-rating is unlikely. It expects revenue growth of Tier-I companies like TCS to be in the range of -1.0% to flat QoQ in constant currency terms.

TCS Q4 Results LIVE: We expect TCS to deliver -0.2% QoQ CC revenue growth and -1% QoQ USD decline due to ramp down in BSNL project - offset by strong rebound in developed markets. Margin to remain flat QoQ as BSNL tailwinds to come with a lag. We expect deal-wins to be stable. We will watch out for outlook on the US macro amid the tariff uncertainty and margin recovery trajectory, said Nuvama Institutional Equities.

TCS Q4 Results LIVE: TCS’ Earnings Before Interest and Taxes (EBIT) in the March quarter is expected to increase 3.5% to ₹16,198.5 crore from ₹15,657 crore, QoQ. EBIT margin during the quarter is estimated to improve by 46 basis points (bps) to 24.9% from 24.5% on a sequential basis.

TCS Q4 Results LIVE: TCS is estimated to report net profit at ₹12,663.6 crore in Q4FY25, registering a growth of 2.3% from ₹12,380 crore, in the December quarter.

TCS Q4 Results LIVE: TCS is expected to report steady deal wins of $11 billion, according to Kotak Equities. This is a decline from $13.2 billion last year, which included certain large renewals. Analysts will focus on the reasons for struggle for growth in the international business, which has been insipid due to ramp-downs and modest deal wins.

TCS Q4 Results LIVE: TCS is expected to post revenue growth of 1.5% on a sequential basis during the quarter ended March 2025. TCS Q4 revenue is estimated at ₹64,964 crore as against ₹63,973 crore in the previous quarter, according to estimates by Kotak Institutional Equities. Revenue in US dollar terms is likely to fall 0.5% to $7,502 million from $7,539 million, QoQ. In constant currency (CC) terms, the brokerage firm expects revenue to decline 0.3% QoQ, forecasting flat revenues for the international business and $30 million decline in BSNL revenues.

TCS Q4 Results LIVE: The Indian IT sector is expected to report mixed earnings for Q4FY25 impacted by persistent regulatory and economic uncertainties. Analysts believe a deteriorating macroeconomic environment may adversely impact IT sector Q4 results and guidance for FY2026.

TCS Q4 Results LIVE: TCS board of directors will also recommend a final dividend for FY25 today. “The Board of Directors of Tata Consultancy Services Limited is scheduled to be held on Thursday, April 10, 2025, inter alia to recommend a final dividend, if any, on the equity shares of the Company for the financial year ending March 31, 2025, for the approval of the shareholders at the ensuing 30th Annual General Meeting,” TCS said in a regulatory filing.

TCS Q4 Results LIVE: Tata Consultancy Services (TCS), the largest IT services company in India, is set to declare its Q4 results today, April 10. Along with the TCS Q4 results, the IT major will also announce its earnings for the full financial year ending 31 March 2025.