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TCS net up 4.6% in Q4, slips 1.8% for 2017-18 (Lead)
Mumbai, April 19 (IANS) Tata Consultancy Services (TCS) on Thursday reported that its consolidated net profit for the fourth quarter (Q4) increased 4.6 per cent annually but declined 1.8 per cent yearly for fiscal 2017-18 in rupee terms.
In a regulatory filing on the BSE, it said net profit for Q4 at Rs 6,925 crore was up 4.6 per cent year-on-year from Rs 6,622 crore in the same period year ago and up 5.8 per cent sequentially from Rs 6,545 crore quarter ago.
“Consolidated net profit for the fiscal under review (FY 2018) declined 1.8 per cent annually to Rs 25,826 crore from Rs 26,289 crore in fiscal 2016-17,” said the city-based IT major.
Under the International Financial Reporting Standards (IFRS), net income for Q4 grew 7.9 per cent annually to $1,070 million from $992 million in the like period year ago and 5.7 per cent sequentially from $1,012 million quarter ago.
For the fiscal under review (FY 2018) net income under IFRS grew 2.3 per cent YoY to $4,005 million from $3,917 million in FY 2017.
Consolidated revenue for Q4 grew 8.2 per cent YoY to Rs 32,075 crore from Rs 29,642 crore in same period year ago and 3.8 per cent sequentially from Rs 30,075 crore quarter ago.
Revenue for FY 2018 grew 4.4 per cent YoY to Rs 1,23,104 crore from Rs 117.966 crore in FY 2017.
Under IFRS, gross revenue for FY 2018 grew 8.6 per cent YoY to $19.09 billion from $17.76 billion year ago.
Operating income for Q4 was Rs 8,147 crore and Rs 30,502 crore for FY 2018, while operating margin for the quarter was 25.4 per cent and 24.8 per cent for the year.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.