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earnings | IST

Currency impact neutral in Q2; salary increments like last year, says TCS

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This quarter the currency has been neutral despite the fluctuations from both dollar and the other stronger major currencies, said V Ramakrishnan, CFO of TCS in an interview to CNBC-TV18.

IT bellwether Tata Consultancy Services (TCS) reported a net profit of Rs 7,475 crore for the quarter ended September. Revenues for the quarter stood at Rs 40,135 crore.
In constant currency terms, dollar revenue was $5,424 million, a growth of 4.8 percent.
For the quarter, the currency impact on earnings was neutral despite the fluctuations in both the dollar as well as other major currencies, said V Ramakrishnan, CFO of TCS in an interview to CNBC-TV18.
He said the company’s dependence on H-1B visas has been significantly low.
Speaking about wage hikes, Milind Lakkad, Executive Vice President and Global Head - Human Resources said the increments given this year will be very similar to what has been done in the past.