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TCS Q2 Results Highlights: Tata Consultancy Services kicks off earnings season, net profit up 6.8% QoQ at Rs 9,624 crore, revenue up 3.2%

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India Inc Earnings updates: Tata Consultancy Services (TCS) -- the country's largest IT services provider -- kicked off the corporate earnings season on Friday. TCS reported a net profit of Rs 9,624 crore over revenue of Rs 46,867 crore for the quarter ended September 30, 2021, missing Street estimates. TCS said its revenue in constant currency terms grew 15.5 percent on a year-on-year basis.

TCS Q2 Results Highlights: Tata Consultancy Services kicks off earnings season, net profit up 6.8% QoQ at Rs 9,624 crore, revenue up 3.2%
  • Thank you for joining our coverage of TCS Q2 Results. We will now wrap the blog. Good night, folks!

  • TCS adds 19,690 employees in Q2, says attrition at 11.9% lowest in industry
    Tata Consultancy Services added 19,690 employees on a net basis in Q2, taking its total employee base to 528,748 as of September 30
    TCS Q2 Results Highlights: Tata Consultancy Services kicks off earnings season, net profit up 6.8% QoQ at Rs 9,624 crore, revenue up 3.2%
  • TCS Q2 Results | Attrition levels concerning but manageable, says management

    Tata Consultancy Services' attrition levels will continue for the next 2-3 quarters, the management said.

    The levels are concerning but can be managed, it said.

    TCS Q2 Results Highlights: Tata Consultancy Services kicks off earnings season, net profit up 6.8% QoQ at Rs 9,624 crore, revenue up 3.2%
  • TCS Q2 Results | Management says satisfied with deal wins across verticals

    The TCS management said it is satisfied with deal wins across verticals. The company's long-term cost structures are well placed to maintain margins. Volatility in supply-side challenges can have a short-term impact, it said.

  • TCS Q2 Results | CEO Rajesh Gopinathan says revenue growth at industry leading profitability       

    TCS CEO Rajesh Gopinathan said the company has consolidated the growth momentum that it has enjoyed over the last five years. Revenue growth has come in at industry leading profitability, he said.

    TCS Q2 Results Highlights: Tata Consultancy Services kicks off earnings season, net profit up 6.8% QoQ at Rs 9,624 crore, revenue up 3.2%
  • TCS Q2 Results | CEO Rajesh Gopinathan says revenue growth at industry leading profitability       

    TCS CEO Rajesh Gopinathan said the company has consolidated the growth momentum that it has enjoyed over the last five years. Revenue growth has come in at industry leading profitability, he said.

    TCS Q2 Results Highlights: Tata Consultancy Services kicks off earnings season, net profit up 6.8% QoQ at Rs 9,624 crore, revenue up 3.2%
  • TCS Q2 Results | Margin at 25.6% vs estimate of 26.1%; Q2 attrition at 11.9%

  • TCS expects to hire 35,000 in H2 FY22

    The company reported net addition of 19,690 employees in the second quarter of the current financial year. Its total headcount now stands at 5,28,748, the company said. 

    TCS said it saw the advantage of proactive hiring in the second half of FY21, which gave it the ability to overcome supply-side challenges in Q2.

    The IT major said it has already crossed the target projected earlier with 43,000 freshers joining in H1.

  • TCS Q2 Results | Revenue growth at 16.8% both in dollar and rupee terms; 15% constant currency

    Tata Consultancy Services posted revenue growth of 16.8 percent in dollar as well as rupee terms. Its revenue grew 15.5 percent in constant currency terms.

  • TCS Q2 Results | EPS growth at 15.7% YoY 

     
    The IT major said its earnings per share (EPS) growth came in at 15.7 percent on a year-on-year basis.
  • TCS Q2 Results | Operating margin at 25.6 percent, up 10 basis points QoQ

    TCS reported a net income margin of 20.5 percent. Its operating margin came in at 25.6 percent, up 10 basis points sequentially, but down 60 basis points annually.

    The operating margin expansion came despite higher expenses, increased currency headwinds and higher sub-contractor usage, Tata Consultancy Services said.

  • TCS Q2 Results | Profit, revenue, EBIT, margin miss Street estimates

  • TCS Q2 Results | Net profit rises 6.8% QoQ to Rs 9,624 crore, revenue up 3.2% at Rs 46,867 crore

    TCS posted a net profit of Rs 9,624 crore for the quarter ended September, missing Street estimates. That marked growth of 6.8 percent and 28.7 percent on QoQ and YoY bases.

    The IT bellwether posted revenue of Rs 46,867 crore for the July-September period, up 3.2 percent sequentially. (Read more on TCS earnings)

  • Crucial earnings season starts today: Sandip Sabharwal

    Market expert Sandip Sabharwal said the crucial results season begins today. "TCS results will be interesting to watch, although their commentary is always bullish," he said in a Tweet. 

  • TCS Q2 Results | All eyes on onset of India Inc earnings season amid hopes of recovery post-second wave of COVID

  • TCS shares have rewarded investors with 69% return in past one year

    In the last one year, Tata Consultancy Services (TCS) shares have given a return of 68.8 percent, much higher than the Sensex's 49.5 percent. 

    The Nifty IT index -- which tracks shares of 10 major IT companies in the country including Infosys, Wipro, HCL Tech and Tech Mahindra -- has risen  67.8 percent during this period. 

    Here's how TCS shares have performed in the past one year:

    TCS Q2 Results Highlights: Tata Consultancy Services kicks off earnings season, net profit up 6.8% QoQ at Rs 9,624 crore, revenue up 3.2%
  • What Street expects from TCS Q2 

    Analysts in a CNBC-TV18 poll expect the IT major to report $6,407 million in revenue for the quarter ended September 30.

  • For Q1, TCS reported net profit of Rs 9,008 crore, missing Street estimates 

    For the quarter ended June 30, Tata Consultancy Services (TCS) had reported a net profit of Rs 9,008 crore, missing Street estimates. Analysts in a CNBC-TV18 poll had predicted the company's net profit for the April-June period at Rs 9,352 crore. The IT major's revenue from operations came in at Rs 45,411 crore in the first quarter of the current financial year. Revenue in constant currency terms rose 16.4 percent on a year-on-year basis. (Read more on the TCS Q1 results)

  • TCS Q2 Results Preview: Street expects 4.1% QoQ dollar revenue growth

    Analysts in a CNBC-TV18 poll expect TCS to post a net profit of Rs 9,731 crore for the quarter ended September 30 over revenue of Rs 47,466 crore. 

    The company is expected to report earnings before interest and taxes (EBIT) of Rs 12,364 crore and a margin of 26.05 percent, according to the CNBC-TV18 poll. 

    The dollar revenue is expected at $6407 million, according to the poll. (Read more on what to expect from TCS Q2 here)

    TCS Q2 Results Highlights: Tata Consultancy Services kicks off earnings season, net profit up 6.8% QoQ at Rs 9,624 crore, revenue up 3.2%
  • TCS shares rise over 1% ahead of Q2 results

    Ahead of the announcement of the quarterly financial results by the IT major, TCS shares ended 1.1 percent higher at Rs 3,935.3 apiece on BSE. The Tata Consultancy Services stock was in high demand on Friday, as some 98,000 shares changed hands on the bourse during the day, as against a daily average of 75,000 recorded in the past two weeks, exchange data showed. 

    On NSE, TCS shares ended the day with a gain of 1.3 percent at Rs 3,943 apiece. (Catch highlights of the Oct 8 trading session here)

  • TCS Q2 Earnings | Tata Consultancy Services will post July-Sept financial results shortly

    Tata Consultancy Services (TCS) -- the country's largest IT company -- will shortly report its financial results for the quarter ended September 30. 

  • Welcome to CNBC-TV18's India Inc Earnings LIVE Blog

    Good evening, readers! Welcome to CNBC-TV18's coverage of India Inc earnings where we bring the latest news on the financial performance of some of India's top businesses. As the earnings season begins, be the first to catch the vital financials of the movers and shakers of Corporate India to make informed investment bets. We also get you instant reactions from our stellar lineup of TV guests and in-house editors, researchers and reporters.

    Have a great earnings season. Good luck!

India Inc Earnings updates: Tata Consultancy Services (TCS) -- the country's largest IT services provider -- kicked off the corporate earnings season on Friday. TCS reported a net profit of Rs 9,624 crore over revenue of Rs 46,867 crore for the quarter ended September 30, 2021, missing Street estimates. TCS said its revenue in constant currency terms grew 15.5 percent on a year-on-year basis.
Here are highlights of Tata Consultancy Services' (TCS) Q2 financial results: