Tata Consultancy Services (TCS) having its head office in Mumbai, reported on 10th October its 8.41 percent YoY growth with a consolidated net profit of ₹10,465 crores. Signaling the earnings season for the information technology sector, the country’s largest IT services provider revealed about a 9.93 percent sequential rise in profits.
According to the company statement, its operations revenue grew to ₹ 55,309 crores, i.e.by 18.01 percent YoY, as against ₹ 46,867 crores in the same quarter last year. The revenue growth was 4.83 percent sequentially while it was 15.4% YoY.
Rajesh Gopinathan, Chief Executive Officer, said “Demand for our services continues to be very strong. We registered strong, profitable growth across all our industry verticals and in all our major markets. Our order book is holding up well, with a healthy mix of growth and transformation initiatives, cloud migration, and outsourcing engagements.”
Apart from this, TCS announced a dividend of ₹ 8 per share, on a record date of 18th October which will be paid on 7th November, respectively.
