TCS December Quarter Profit At Rs 8,118 Crore, Meets Estimates
TCS has so far this year added 22,390 employees.
The country's largest software services company Tata Consultancy Services on Friday reported net profit of Rs 8,118 crore in quarter ended December 2019, that marked an increase of 0.9 per cent from profit of Rs 8,042 crore in the previous quarter.
TCS' revenue from operations rose 2.25 per cent to Rs 39,854 crore from Rs 38,977 crore in the previous quarter.
Rajesh Gopinathan, Chief Executive Officer and Managing Director of TCS said: "We saw the sectoral trends of the first half of the year continue to play out in the third quarter. Our robust order book during the quarter reflects our ability to pitch innovative technology solutions to address the business needs of different stakeholders in the enterprise, and participate in our customers' enterprise-wide transformation initiatives. This is also helping deepen and broaden our customer relationships, and make the business more resilient."
TCS' revenue in constant currency terms rose 6.8 per cent year-on-year, the company said in an earnings release.
TCS' revenue from banking financial services and insurance (BFSI) came in at Rs 15,483 crore, revenue from manufacturing was Rs 4,171 crore, revenue from retail and consumer business was Rs 6,709 crore and communications, media and technology business contributed Rs 6,608 crore towards the revenue.
"Our participation in the growth and transformation spends of our customers is most evident in our sustained success in continental Europe where our revenues have more than doubled in the last five years. Our thought leadership in areas like the Business 4.0 framework, Enterprise Agility and the Machine First Delivery Model, our domain and technology consulting expertise, investments in research and innovation, and our ability to design complex solutions leveraging multiple capabilities from across TCS, have made us the preferred partner for CEO-level initiatives at progressive organizations," Mr Gopinathan added.
Life sciences and healthcare continues to outperform, growing at 17.1% (YoY), manufacturing grew 9.2 (YoY) and communications and media grew 9.5 per cent, the company said in earnings release.
TCS has so far this year added 22,390 employees, the company added in its earnings release.
TCS board announced an interim dividend of Rs 5 per equity share.
TCS shares closed 0.91 per cent lower at Rs 2,218 on the BSE underperforming the Sensex which ended on a flat note.