Tata Consultancy Services (TCS) is the country's largest IT services exporter.
Tata Consultancy Services (TCS) on Thursday reported a record net profit of Rs 8,105 crore for the October-December quarter. With that, the country's largest IT company kicked off the corporate earnings season. Net profit in the quarter ended December 31 rose 2.6 per cent from Rs 7,901 crore in the previous three-month period, according to a regulatory filing by the company.
Here are 10 things to know:
- The net profit was supported by strong gains from its banking, financial services and insurance segment.
- Growth in the segment stood at 8.6 per cent on year.
- Still, TCS's net profit narrowly missed an average estimate of Rs 8,219 crore from 25 analysts, news agency Reuters reported citing Refinitiv data.
- Revenue stood at Rs 37,338 crore in the December quarter, TCS said.
- "The strong client metrics, industry leading growth in digital services, a very
strong order book and deal pipeline are all validations that customers recognise our differentiated capabilities and are picking us for their growth and transformation programs," said Rajesh Gopinathan, chief executive officer and managing director, TCS.
- TCS said its revenue growth in constant currency terms stood at 1.8 per cent compared with the previous quarter.
- On a year-on-year basis (compared with the quarter ended December 31, 2017), the company said its revenue growth stood at 12.1 per cent - its highest in 14 quarters.
- The revenue growth accelerated across geographies compared to the previous quarter, TCS said, led by the UK (25.1 per cent), Europe (17.6 per cent), and Asia Pacific (12.6 per cent).
- The company declared an interim dividend of Rs 4 per share.
- TCS shares closed 0.2 per cent lower on the NSE, ahead of the earnings announcement by the company.
(With agency inputs)
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