For the financial year 2018-19, TCS net profit rose 21.9 per cent to Rs 31,472 crore, while revenue grew 19 per cent to Rs 1,46,463 crore; the board recommended a final dividend of Rs 18 per equity share

As Indian IT services companies move beyond run-of- the-mill businesses and towards digital transformation, artificial intelligence is taking centre stage.

Income from operations rose 20.80 per cent to Rs 37,338 crore in October-December quarter as compared to Rs 30,907 crore in the year ago period.

Finance Minister Arun Jaitley and two of his union cabinet colleagues are likely to travel to Switzerland's snow-laden resort town of Davos next month for the WEF Annual Meeting

For the September quarter, TCS saw its revenue increase 20.7 per cent annually to Rs 36,854 crore. The company's operating margin for the quarter stood at 26.5 per cent which amounts to an increase of 1.4 per cent Y-o-Y.

The first quarter of this fiscal ended on a cheery note for the domestic IT industry's Banking, Financial Services, and Insurance (BFSI) vertical.

TCS saw its digital revenue jump up 44.8 per cent year-on-year in the quarter ended June, and it currently accounts for around 25 per cent of revenue.

The earnings wereannounced after market hours on Tuesday. The TCS stock closed 0.56 per cent lower at Rs1,877 on the BSE. The stock gained aftertwo consecutive days of decline today. The stock hit its life-time high level of1,930 on July 9, 2018 and succumbed to profit booking before it erased losses tohit an intra day and fresh life time high of 1935 level in trade today.

IT major TCS reported the total revenue of Rs 34,261 crore, which is 6.8 per cent up sequentially and 15.8 per cent compared the corresponding quarter last year. The company's operating margin stood at 25 per cent.

Tata Sons has a 73 per cent stake in TCS and, if it tenders shares, could stand to gain around Rs 10,000 crore from the Rs 16,000 crore share buyback.

The stock which opened at 1801 hit an intra day high of 1849 level.  The firm's market capitalisation rose to Rs 7,05,012 crore.  The stock is up 52.75% during the last one year and has gained 36.38% since the beginning of this year.

At 10:34 am, the stock was trading 2.04% or 36.30 points higher at 1817 level in early trade. The stock of the bluechip IT firm is trading 1.16% away from 52 week high of Rs 1837.

The IT major is taking big strides with digital at the centre of its growth story.

The achievement also helped TCS beat US-listed rival Accenture's market capitalisation of $98 billion, though Accenture ended financial year 2017-18 with revenues of $34.90 billion, far higher than TCS' $19.1 billion.

TCS saw its market capitalisation swell to Rs 6,52,082.92 crore after posting higher than expected March quarter results. The firm registered an increase in its market cap after its stocks rose on the back of positive quarterly results.