TCS profit increases 22.6%, revenue rises 20.7% in September quarter
Mumbai: AideD by strong demand for digital services, Tata Consultancy Services (TCS), India’s largest software exporter, on Thursday reported a 22.6 per cent jump in consolidated net profit at Rs 7,901 crore in the July-September 2018 quarter, compared with Rs 6,446 crore in the corresponding period of last fiscal.
The Tata group blue chip saw a revenue growth of 20.7 per cent at Rs 36,854 crore in the September quarter, up from Rs 30,541 crore a year ago. Its earning per share for the quarter was at Rs 20.66 and operating margin rose to 26.5 per cent.
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 BFSI and retail. Our industry-leading digital growth, and best-in-class client metrics bear testimony to our standing as the preferred partner in our customers’ growth and transformation initiatives.”
“Our Business 4.0 thought leadership framework, contextual knowledge, and full stakeholder capabilities differentiate us, and drive demand for our solutions and services.
Our Machine First Delivery Model (MFDM) and location-independent Agile methods are helping customers integrate automation deep within their enterprise, and orchestrate a more effective human-machine interplay to deliver superior customer experience at scale.” Growth was led by UK (22.8 per cent), Europe (17.4 per cent) and Asia Pacific (12.5 per cent). Revenue growth in North America accelerated further to 8.1 per cent as against 7 per cent growth in the first quarter.