Tata Consultancy Services (TCS), India’s largest software exporter, on Monday reported an 8.38 per cent year-on-year (YoY) rise in net profit at Rs 10,431 crore in September quarter compared with Rs 9,624 crore in the corresponding quarter last year.
Revenues from operations rose 18.01 per cent YoY to Rs 55,309 crore from Rs 46,867 crore in the same quarter last year, the IT firm said in an exchange filing. Revenue growth in constant currency (CC) terms stood at 15.4 per cent YoY, TCS said.
Ebit margin for the quarter came in at 24 per cent against 23.10 per cent in June quarter and 25.6 per cent in the year-ago quarter.
The Mumbai-based IT firm said its total contract value (TCV) for the quarter stood at $8.1 billion. Analysts were largely expecting a TCV of $8-8.5 billion.
Chief Executive Officer and Managing Director, Rajesh Gopinathan, said: “Demand for our services continues to be very strong. We registered strong, profitable growth across all our industry verticals and in all our major markets. Our order book is holding up well, with a healthy mix of growth and transformation initiatives, cloud migration and outsourcing engagements.”
As clients prepare for a more challenging environment ahead, Gopinathan said, technologies like cloud that have been embraced now have to be fully leveraged to realise the promised value.
The last twelve month (LTM) IT Services attrition rate stood at 21.5 per cent, TCS said. It saw a net headcount addition of 9,840 for the quarter, taking the workforce strength to 6,16,171.
The IT firm announced a second interim dividend of Rs 8 per share.
Earlier, shares of TCS closed Monday’s session at Rs 3,121.20 on BSE, up 1.84 per cent. Despite this, the scrip is down 18 per cent year-to-date.
(More to come)
