TCS Q2 Results: Second Quarter Profit of Tata Consultancy Services Jumps by 23% YoY, Surges by Rs 7,901 Crore
The company's year-on-year (YoY) profit has jumped by 23 per cent, as it has earned Rs Rs 7,901 crore, as compared to the earnings in the corresponding quarter last year.
Mumbai, October 11: Tata Consultancy Services (TCS), India's leading software services exporter, has registered economic growth for another quarter in a row. The company's year-on-year (YoY) profit has jumped by 23 per cent, as it has earned Rs 7,901 crore, as compared to the earnings in the corresponding quarter last year.
In the quarter ending September last year, the TCS had registered a profit of Rs 6,446 crore -- down by nearly Rs 1,445 crore as compared to this year. The net earnings registered then was Rs 30,541 crore, as compared to Rs 36,854 crore in this quarter. TCS Becomes 2nd Indian Firm After Reliance to Clock Rs 8 Trillion Market Cap.
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 banking, financial services and insurance (BFSI) and retail."
N Ganapathy Subramaniam, chief operating officer and executive director, at TCS termed the September quarter as a "good" one and said there was a strong demand in areas like analytics, cloud and automation.
The company has declared a dividend of Rs 4 per share. The net employee addition in September 2018 quarter was at 10,227 professionals, highest in 12 quarters, the company said.
Total employees strength at the end of Q2 stood at 4,11,102 on a consolidated basis. IT services attrition rate was steady at 10.9 per cent on last 12 months basis.
(With agency inputs)
(The above story first appeared on LatestLY on Oct 11, 2018 07:00 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).