TCS net profit jumps 16% to Rs 6,085 crore

New Delhi, October 13

Country’s largest software services firm Tata Consultancy Services (TCS) has reported a 16% surge in net profit to Rs 6,084.66 crore for the quarter ended September 30. It had reported a profit of Rs 5,244.28 crore in the corresponding period last fiscal, it said.

The company’s total income from operations for the quarter rose 14.06% to Rs 27,165.48 crore as against Rs 23,816.48 crore last year. The figures are in Indian GAAP.

However, according to the company statement, as per IFRS, the net profit for Q2 stood at Rs 6,055.20 crore whereas revenues was Rs 27,165.50 crore.

TCS CEO and MD N Chandrasekaran said: “We have delivered accelerated growth in constant currency terms for Q2. Driven by great execution on the ground, our broad-based performance has been led by strong sequential growth in BFS, retail and life sciences verticals with the UK and North America leading the markets.”

The company said core markets like the UK, North America and Europe grew smartly along with emerging markets like Latin America, India and MEA.

TCS also announced a dividend of Rs 5.50 per share. Its operating margin for the quarter stood at 27.1%.

The company said there was a total gross addition of 25,186 people (net addition of 10,685 employees) taking the total employee strength of 3,35,620 on consolidated basis. — PTI