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TCS Q3 net grows 24.1% to Rs 8,105 cr

Friday, January 11, 2019

The country's largest software exporter TCS today reported 24.1% growth in net profit at Rs 8,105 crore for the quarter ended December 2018.

The company had posted a net profit of Rs 6,531 crore in the same period last fiscal as per Indian accounting norms.

The Tata Group firm, which accounts for the lion's share of the group's overall profit, reported a revenue growth of 20.8% at Rs 37,338 crore for the said quarter, up from Rs 30,904 crore a year earlier.

Revenue growth stood at 12.1% on constant currency basis.

"We are wrapping up 2018 with a strong revenue growth of 12.1% in the December quarter, which is the highest in 14 quarters, with continued growth acceleration in key verticals and across all geographies," TCS Chief Executive Officer and Managing Director Rajesh Gopinathan said in a statement.

The strong client metrics, industry leading growth in digital services, a very strong order book and deal pipeline are validations that customers recognise TCS' differentiated capabilities, he added.

The company's Chief Financial Officer V Ramakrishnan said despite headwinds from the rupee volatility against various currencies, and the higher cost of doing business in some major markets, TCS' operating margins have been resilient.

"We remain focused on driving rigour in our operations, generating strong cash flows and steering profitability back to our preferred range, while continuing to invest strongly for future growth," he added.

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