Profit

TCS Reports Net Profit Of Rs 6,531 Crore In December Quarter

Tata Consultancy Services' revenue and profit numbers were in line with market estimates.

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TCS Reports Net Profit Of Rs 6,531 Crore In December Quarter

TCS announced its third-quarter earnings after market hours on Thursday

Highlights

  1. TCS posted Rs 30,904 crore in income from operations in December quarter
  2. Revenue, profit numbers were in line with market estimates
  3. Analysts on average expected TCS to post profit of Rs 6,518 crore
TCS, India's biggest outsourcer, on Thursday reported a net profit of Rs 6,531 crore in December quarter, as against Rs 6,446 crore in September quarter. Income from operations rose to Rs 30,904 crore in December quarter, as compared to Rs 30,541 crore in September quarter. The revenue and profit numbers were in line with market estimates. Analysts on average expected the Mumbai-headquartered company to post a profit of Rs 6,518 crore.

Commenting on its Q3 performance, Tata Consultancy Services CEO Rajesh Gopinathan said: "We wrapped up 2017 with a strong performance in the December quarter, marked by signing of industry-defining deals, robust client matrics and broad-based demand across industry verticals. As lagging parts of our portfolio turn around and areas of softness reduce, we are well-placed for stronger growth ahead."

In dollar terms, TCS reported revenue of $4,787 million, up 1 per cent quarter-on-quarter and 9 per cent year-on-year. Operating margin expanded by 0.1 per cent quarter-on-quarter to 25.2 per cent.

The third quarter is seasonally weak for Indian outsourcers due to holidays in the United States and Europe, key markets where the company fights for contracts with competitors.

Total employee strength at the end of Q3 stood at 3,90,880 on a consolidated basis, with gross addition of 12,534 employees and net addition of 1,667 employees during the quarter.

TCS shares closed 0.66 per cent lower at Rs 2,788 on the BSE. 

TCS announced its third-quarter earnings after market hours.

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