IT services bellwether Tata Consultancy Services (TCS) has reported net profit of Rs 8,118 crore for the December quarter, which is slightly higher (0.2 per cent) as compared to Rs 8,105 crore profit during the same period last year. The company's revenue for the quarter grew at Rs 39,854 crore, up 6.7 per cent YoY from Rs 37,338 crore in the December 2018 quarter. While its operating margin stands at 25 per cent, net margin was 20.4 per cent for Q3. The company's revenue grew 6.8 per cent in constant currency terms.
TCS' revenue growth was led by life sciences and healthcare business, (which saw 17.1 per cent growth), communications and media (9.5 per cent growth) and manufacturing (up 9.2 per cent).
Tata Consultancy Services has also declared its third interim dividend of Rs 5 per equity share of Re 1 each. In September quarter, TCS had reported a 1.8 per cent growth in net profit at Rs 8,042 crore. The interim dividend will be paid on Friday, January 31.
"Our robust order book during the quarter reflects our ability to pitch innovative technology solutions to address the business needs of different stakeholders in the enterprise, and participate in our customers' enterprise-wide transformation initiatives," Rajesh Gopinathan, Chief Executive Officer and Managing Director, said.
TCS share closed at 2,220 on Friday, down 0.84 per cent from yesterday's close of Rs 2,240.75. TCS has over 446,000 employess across 46 countries. The company generated consolidated revenues of $20.9 billion in FY19.
Edited by Manoj Sharma
Copyright©2022 Living Media India Limited. For reprint rights: Syndications Today