TCS Q2 net profit climbs 8.4% to ₹10,431 crore on ‘sustained demand across markets’
The Hindu
Revenue expands 18% to ₹55,309 crore
Tata Consultancy Services (TCS) Ltd. on Monday said consolidated net profit for the quarter ended September 30 rose 8.4% to ₹10,431 crore from a year earlier. This is for the first time that the quarterly net profit crossed ₹10,000-crore mark. Net margin was 18.9%, the company said.
Revenue grew 18% to ₹55,309 crore. Constant-currency revenue growth was 15.4%.
The company’s board announced a dividend of ₹8 per share. With a net headcount addition of 9,840 during the quarter, the company’s workforce stood at at 6,16,171.
“We closed the quarter on a strong note,” Rajesh Gopinathan, CEO and MD, TCS, told the media press. “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,” he added.
“This was the milestone quarter for us as we crossed ₹10,000 crore in net profit. On the financial perspective it was a satisfying quarter,” he added.
However, he said, “Of course, the environment is challenging and it requires all of us to remain vigilant and we once again demonstrated that our services portfolio and focus on innovation and cost optimisation are very relevant as the clients deal with the volatility and challenges,” he added.
“Our order book is holding up well, with a healthy mix of growth and transformation initiatives, cloud migration and outsourcing engagements,” he further said.
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