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earnings | IST

TCS Q3 net profit jumps 24% YoY to Rs 8,105 crore

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India’s largest IT services firm, Tata Consultancy Services (TCS), on Thursday posted 24 percent year-on-year (YoY) rise in profit at Rs 8,105 crore for the third quarter. The Mumbai-based information technology (IT) outsourcing company had posted a net profit of Rs 6,531 crore crore in the corresponding period last fiscal.

India’s largest IT services firm, Tata Consultancy Services (TCS), on Thursday posted 24 percent year-on-year (YoY) rise in profit at Rs 8,105 crore for the third quarter.
The Mumbai-based information technology (IT) outsourcing company had posted a net profit of Rs 6,531 crore in the corresponding period last fiscal.
Its income from operations during the quarter under review stood at Rs 37,338 crore, up 20.8 percent from Rs 30,904 crore crore in the year-ago period, the company said in a BSE filing.
Operating margin for the quarter stood at 25.6 percent, an expansion of 0.4 percent YoY.
Digital accounted for 30.1 percent of the revenues, registering year-on-year growth of 52.7 percent.
The company has declared a dividend of Rs 4 per share.
In Q3, the company added 6,827 employees on a net basis. Total employee strength at the end of Q3 stood at 417,929 on a consolidated basis. The percentage of women in the workforce rose further to 35.8 percent, while the total number of nationalities represented grew to 151, the company said.
As on December 31,2018, TCS has applied for 4,354 patents, including 169 applied during the quarter and has been granted 855 patents.
Commenting on the Q3 performance, Rajesh Gopinathan, chief executive officer and managing director, said, "We are wrapping up 2018 with a strong revenue growth of 12.1 percent in the December quarter, which is the highest in 14 quarters, with continued growth acceleration in key verticals and across all geographies."
"The strong client metrics, industry leading growth in digital services, a very strong order book and deal pipeline are all validations that customers recognize our differentiated capabilities and are picking us for their growth and transformation programs," he added.
The company's chief financial officer V Ramakrishnan said despite headwinds from the rupee volatility against various currencies, and the higher cost of doing business in some major markets, TCS' operating margins have been resilient.
"We remain focused on driving rigour in our operations, generating strong cash flows and steering profitability back to our preferred range, while continuing to invest strongly for future growth," he added.