TCS Net Profit Down By 3.6% For Q3

By Olga
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    One of India's largest IT firms said today that its net profit fell by 3.6 per cent to Rs 6,531 crore in the December 2017 quarter, reported PTI. It had posted a net profit of Rs 6,778 crore for the third quarter in the previous fiscal year.

    TCS Net Profit Down By 3.6% For Q3

    As per Indian Accounting Standards (Ind-AS), its income from operations stood at Rs 30,904 crore for the same quarter, which is 3.9% higher than Rs 29,735 crore, which was the income it made during the same period last year.

    TCS has declared a dividend of Rs 7 per share.

    "We wrapped 2017 with a strong performance in the December quarter. As lagging parts of our portfolio turn around, and areas of softness reduce, we are well placed for stronger growth ahead," TCS CEO and MD Rajesh Gopinathan said.

    He also said that the Mumbai headquartered company signed its first over USD 50 million deal in 'Digital'. Its digital revenue has seen a 40% year-on-year increase and accounted for 22.1% of the company's revenues.

    TCS saw its IT attrition rate (LTM) coming down by 0.2% to 11.1% and has added 12,534 employees during the quarter. Its total headcount now stands at 3,90,880 people.

    Read more about: tcs tata consultancy services q3
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