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TCS Q2 results highlights: Tech major logs Rs 9,624 crore profit, misses estimates

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Tata Consultancy Services on Friday reported a 14.1 percent year-on-year (YoY) jump in consolidated net profit at Rs 9,624 crore for the quarter ending September 30.

TCS Q2 results highlights: Tech major logs Rs 9,624 crore profit, misses estimates
India's largest IT services exporter, Tata Consultancy Services (TCS), on Friday reported a 14.1 percent year-on-year (YoY) jump in consolidated net profit at Rs 9,624 crore for the quarter ending September 30.
The company had logged a net profit of Rs 8,433 crore (excluding adjustment) in the year-ago period, TCS said in a regulatory filing. CNBC-TV18 Polls had predicted a profit of Rs 9,731 crore for the quarter under review.
Here are key highlights of the TCS Q2 results:
  1. Revenue from operations rose 17 percent to Rs 46,867 crore in the reporting period from Rs 40,135 crore in the year-ago period.
  2. The net profit excluded Rs 1,218 crore-provision towards a legal claim. Including this number, the net profit in September 2020 quarter was Rs 7,475 crore.
  3. TCS board also approved a Rs 7 per share interim dividend for the shareholders of the company.
  4. TCS has added five new clients in the $100 million-plus category, taking the total to 54 now, and there was an addition of 17 new clients in the $50 million-plus band where now it has 114 clients.
  5. All verticals showed strong and double-digit growth on a year-on-year basis, said the company.
  6. Manufacturing vertical with 21.7 percent YoY growth, Life Sciences and Healthcare with 19 percent growth, Retail and CPG segment with 18.4 percent and BFSI with 17 percent growth supported the topline during the quarter.
  7. Among others, Communications & Media vertical registered 15.6 percent year-on-year growth, and Technology & Services grew by 14.8 percent in Q2FY22.
  8. Geography-wise, the growth was led by North America that grew by 17.4 percent compared to the previous quarter. United Kingdom business has grown 15.6 percent and Continental Europe grew 13.5 percent.
  9. The employee's strength in the country's largest IT company increased to 5,28,748 after net headcount addition of 19,690 in the September 2021 quarter.
  10. IT services attrition rate (last twelve months) at 11.9 percent was the lowest in the industry, said TCS in its BSE filing.
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