TCS records 8.2% growth; Q3 net profit at Rs 11,735 cr
The company said its revenue for the reporting quarter grew 4 per cent to Rs 60,583 crore driven by strong double-digit growth in emerging markets, led by India.
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MUMBAI: The country’s largest software exporter on Thursday reported an 8.2 per cent growth in net profit for the December quarter at Rs 11,735 crore.
The company said its revenue for the reporting quarter grew 4 per cent to Rs 60,583 crore driven by strong double-digit growth in emerging markets, led by India.
The company’s order book stood at $8.1 billion, it said, adding net cash from operations stood at Rs 11,276 crore.
The topline growth was also led by energy, resources and utilities (up 11.8 per cent), manufacturing(7 per cent), and life sciences & healthcare (3.1 per cent), the company said in a statement.
K Krithivasan, CEO-MD, said: “Our strong performance in a seasonally weak quarter buffeted by macro-economic headwinds, demonstrates the strength of our business model with a well-diversified portfolio and a customer centric strategy. We are seeing strong deal momentum across markets resulting in a solid order book providing visibility into our long-term growth. We are seeing tremendous interest in Generative AI and are leading the innovation and exploratory efforts for our customers in this area.”
The consumer business group reported -0.3 pc negative growth while it was -3 per cent for BFSI. Communications and media saw -4.9 per cent growth and technology and services dipped by -5.0 per cent. Regional markets grew 19.2 per cent.
Operating margin improved by 50 bps to 25 per cent, the company said, while net margin stood at 19.4 per cent.
N Ganapathy Subramaniam, COO and ED, said: “The quarter saw us make significant progress in many projects of national importance, demonstrating our execution strength. Our products and platforms had a strong quarter with new wins and go-lives. The MCX platform is scaling well and processing record transaction volumes. We are on course with the BSNL 4G/5G network roll out. We are making good progress in upskilling our employees in Generative AI through our AI playground platform.”
TCS’ diverse workforce, including 35.7 per cent women, stood at 603,305 as on December 31. Year till date, TCSers have clocked 39.7 million learning hours, and acquired 3.7 million competencies including 515,000 high demand competences.
Samir Seksaria, CFO, said: “Our disciplined execution and operational rigor drove strong improvement in our industry leading margins despite seasonal headwinds. We are making the right investments in our people, innovation and infrastructure to differentiate ourselves and create long term value for all our stakeholders.”
IT services’ attrition was at 13.3 pc for the last 12 months. TCS has already commenced campus hiring process for the next year and its Milind Lakkad, chief HR officer, said: “The vibrancy and energy levels in our offices are increasing as more and more of our employees are back in the offices. We expect to be back to our normal operating mode by the end of the current fiscal year.”
