Tata Consultancy Services India’s largest IT company (TCS) by market capitalization reported a 14.1 per cent year-on-year growth in its net profit at Rs 9,624 crore for the quarter ended September. Sequentially, profit jumped from Rs 9,008 crore during the June quarter.
Consolidated net revenue also rose 16.8 per cent year-on-year to Rs 46,867 crore for the quarter under review. The company noted that its revenue in constant currency terms grew 15.5 percent year-on-year. Commenting on the impressive result, Rajesh Gopinathan, Chief Executive Officer and Managing Director, said, “A strong and consistent demand environment, a once in a decade opportunity to establish ourselves as the preferred growth and transformation partner for our customers. Is.
TCS The board also approved an interim dividend of Rs 7 per share for the shareholders of the company.
TCS said all verticals showed strong, double-digit growth year-on-year, led by the manufacturing vertical (up 21.7 per cent), life sciences and healthcare (up 19 per cent), retail and CPG (up 18.4 per cent). BFSI (up 17 per cent), Communications & Media (up 15.6 per cent) and Technology and Services (up 14.8 per cent).
Geography-wise, the growth was led by North America (up 17.4 percent), the UK (up 15.6 percent), and continental Europe (up 13.5 percent). Among emerging markets, growth was led by India (up 20.1%), Latin America (up 15.2 percent), the Middle East and Africa (up 13.8 percent) and Asia Pacific (up 7.6 percent).
“We are using the growth tailwind to invest in strengthening relevant capabilities and building a broad portfolio of offerings that cater to a broader set of stakeholders in the enterprise across business cycles, reinforcing our brand.” and makes our business more resilient. We believe this is the most sustainable path to creating long-term value for all our stakeholders,” said TCS CEO.
Consolidated operating margin for the quarter under review stood at 25.6 per cent as against 25.5 per cent in the previous quarter. “Strong growth and disciplined execution helped the company overcome adversity from currency and supply-side inflation and deliver expanded margins,” Chief Financial Officer Sameer Sexaria said.
TCS has added five new customers in the over $100 million category, taking the total to 54. The band of over $50 million added 17 new customers, where it now has 114 subscribers.
“Q2 saw strong demand for growth and transformation services as customers took a longer-term view of their businesses by improving vaccination levels and business outlook. Broad-based growth in cloud, enterprise application services, analytics and IoT-led services,” the company said.
TCS had a job loss rate of 11.9 per cent during the September quarter, the lowest in the sector. It added 19,690 employees during Q2FY22.
“The demand environment is expected to remain strong which augurs well for the company and the IT sector as a whole. Overall, the company reported figures that were lower than expected estimates for the quarter and the markets will now await Infosys numbers, which will be announced on October 13,” said Jyoti Roy, DVP, Equity Strategist, Angel One Ltd. .
read all breaking news, breaking news And coronavirus news Here. follow us on Facebook, Twitter And Wire.
.