TCS Reports 8.4% Rise In Net Profit To Rs 10,431 Crore In September Quarter

Tata Consultancy Services Ltd (TCS) kicked off the earnings season on a positive note, reporting a rise of 8.4 per cent in net profit to Rs 10,431 crore in the September quarter from a year ago on the back of strong deal wins.

The company's net profit rose to Rs 10,431 crore in the three months that ended September 30 from Rs 9,624 crore a year before.

Reuters reported that analysts, on average, had expected a profit of Rs 10,244 crore, quoting Refinitiv data.

TCS reported that its revenue jumped 18 per cent to Rs 54,309 crore in the second quarter compared to a year ago. 

The IT major had recorded consolidated revenue of Rs. 46,867 crore in the July quarter, with net income of Rs. 9,624 crore.

Its operating margin, however, shrank by 1.6 percentage points to 24 per cent in the September quarter.

The corporation grew its workforce by 9,840 on a net basis during the quarter, bringing its total strength to 6.16 lakh, making it the top employer in its industry.

Ahead of the earnings release, TCS stock ended on Monday with 1.84 per cent gains at Rs 3,121.20 per share, compared to a decline of 0.34 per cent in the broader BSE Sensex index.