TCS reports 22.6 percent jump in consolidated net profit at Rs 79.01 bn


NEW DELHI:The country's largest software exporter TCS Thursday reported a 22.6 per cent jump in consolidated net profit at Rs 79.01 crore in the July-September 2018 quarter, buoyed by strong demand for digital services.

Tata Consultancy Services (TCS) had posted a net profit of Rs 64.46 billion in the same period last fiscal, the company said in a statement.

The Tata group company saw a revenue growth of 20.7 per cent at Rs 368.54 billion in the September quarter, up from Rs 305.41 billion a year ago. Its earning per share for the quarter was at Rs 20.66.

TCS CEO and MD Rajesh Gopinathan said, "We are very pleased with our all-round strong performance in Q2. Revenue growth was driven by expanding demand for digital transformation across verticals, and continued acceleration in banking, financial services and insurance (BFSI) and retail."

N Ganapathy Subramaniam, chief operating officer and executive director, at TCS termed the September quarter as a "good" one and said there was a strong demand in areas like analytics, cloud and automation.

The company has declared a dividend of Rs 4 per share.

The net employee addition in September 2018 quarter was at 10,227 professionals, highest in 12 quarters, the company said. Total employees strength at the end of Q2 stood at 411,102 on a consolidated basis.

IT services attrition rate was steady at 10.9 per cent on last 12 months basis.