NE BUSINESS BUREAU
AHMEDABAD, JAN 18
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 percent YoY from Rs 37,338 crore in the December 2018 quarter. While its operating margin stands at 25 percent, the net margin was 20.4 percent for Q3. The company’s revenue grew by 6.8 percent in constant currency terms.
TCS’ revenue growth was led by life sciences and healthcare business, (which saw 17.1 percent growth), communications and media (9.5 percent growth) and manufacturing (up 9.2 percent).
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 percent 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.
