TCS Q3 Net Profit Marginally Up At Rs 8118 Crore

Software services major Tata Consultancy Services (TCS) on Friday reported a muted 0.2 percent growth in consolidated net profit at Rs 8,118 crore for the third quarter ended December 2019. The company’s net profit was Rs 8,105 crore in the year-ago period, TCS said in a BSE filing.

Revenue of the city-based firm grew 6.7 percent in the quarter under review to Rs 39,854 crore from Rs 37,338 crore in the corresponding period of the last fiscal, it added.

“We saw the sectoral trends of the first half of the year continue to play out in the third quarter. 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,” TCS CEO and managing director Rajesh Gopinathan said in a statement.

This is helping deepen and broaden the company’s customer relationships and make the business more resilient, he added.

The TCS board has declared a third interim dividend of Rs 5 per equity Share of Re 1 each of the company.―The Hindu Business Line