TCS Reports Profit Of Rs 8,042 Crore In September Quarter

TCS Reports Profit Of Rs 8,042 Crore In September Quarter

Tata Consultancy Services (TCS), the country's largest IT services exporter, on Thursday reported a net profit of Rs 8,042 crore for the quarter ended September 30. That marked a decrease of 1.09 per cent in the net profit compared with the previous quarter. In a regulatory filing after market hours, TCS said its revenue came in at Rs 38,977 crore in the second quarter of current financial year, as against Rs 38,172 crore in the quarter ended June 30.

"We ended the quarter with steady growth despite increased volatility in the financial services and retail verticals,” said Rajesh Gopinathan, CEO and managing director.

“We remain confident as the medium and longer term demand for our services continues to be very strong, as evidenced by our Q2 order book - the highest in the last six quarters,” he added.

In constant currency terms, the revenue grew 8.4 per cent in the second quarter of 2019-20, TCS said. 

Its digital revenue, contributing 33.2 per cent of total revenue, grew 27.9 per cent in Q2 compared with the corresponding period a year ago. 

The company's board declared an interim dividend of Rs 5 per equity share and a special dividend of Rs 40 per equity share.

TCS said it added 14,097 employees during the quarter on a net basis, marking its “highest ever number of employees on-boarded in a quarter”.

Its IT services attrition rate in the last 12 months stood at 11.6 per cent. 

Shares in TCS ended 0.80 per cent lower at Rs 2,004.40 apiece on the BSE, in line with a 0.78 per cent fall in the benchmark Sensex index, ahead of the earnings announcement by the IT major.

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