TCS net slips 1.8% in 2017-18

Mumbai, April 19 (IANS) Tata Consultancy Services (TCS) on Thursday reported Rs 25,826 crore consolidated net profit for fiscal 2017-18, registering 1.8 per cent yearly decline from Rs 26,289 crore posted in 2016-17.

In a regulatory filing on the BSE, the IT major said consolidated revenue for the fiscal under review (FY 2018), however, grew 4.4 per cent yearly to Rs 1,23,104 crore from Rs 117.966 crore in fiscal 2016-17 (FY 2017).

Under the International Financial Reporting Standards, net income grew 2.3 per cent yearly to $4,005 million in FY 2018 from $3,917 million in FY 2017.

Gross revenue grew 8.6 per cent yearly to $19.09 billion from $17.76 billion a year ago under IFRS.

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