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TCS Q3 Profit At Rs 8,118 Crore; Announces Dividend

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On Friday, Tata Consultancy Services (TCS) reported a 0.2 percent increase in net income for the December ended quarter at Rs 8,118 crore as against Rs 8,105 crore reported for the same period of the previous year. The IT company's revenue was up by 6.7 percent on a year-on-year basis to Rs 39,854 crore.

In constant currency terms, the company's revenue grew by 6.8 percent from a year ago. Operating margin was at 25 percent while net margin was at 20.4 percent.

TCS Q3 Profit At Rs 8,118 Crore; Announces Dividend
Tata Consultancy Services: Quotes, News
BSE 2103.90BSE Quote19.15 (-0.91%)
NSE 2105.50NSE Quote18.1 (-0.86%)
 

Net cash from operations stood at Rs 9,451 crore, that is 116.4 percent of the net income, as of 31 December 2019.

The Life Sciences & Healthcare continued to outperform, growing at 17.1 percent on a year-on-year basis in the quarter. Manufacturing grew at 9.2 percnet and Communications & Media grew at 9.5 percent.

The company's Europe operations grew 15.9 percent in the quarter when compared to December 2018.'

During the October-December 2019 period, TCS made a net addition of 22,390 employees.

"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. This is also helping deepen and broaden our customer relationships, and make the business more resilient," said CEO and MD Rajesh Gopinathan.

"In a seasonally weak quarter characterized by furloughs across multiple industry verticals, we focused on execution, while continuing to invest for future growth. Having onboarded over 30,000 trainees in the first half of the year, we worked on driving up utilization in Q3 and had good outcomes. Our client metrics were also very good, with additions across most revenue buckets," said N Ganapathy Subramaniam, CFO and Executive Director.

TCS announced an interim dividend of Rs 5 per share.

"We would like to inform you that at the Board Meeting held today, the Directors have declared a Third Interim Dividend of Rs 5 per Equity Share of Rs 1 each of the Company," the company said in its stock exchange filing.

 

"The Third Interim Dividend shall be paid on Friday, January 31, 2020 to the equity shareholders of the Company, whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Saturday, January 25, 2020 which is the Record Date fixed for the purpose," it added.

Shares of Tata Consultancy Services closed 0.84 percent lower at Rs 2,220, ahead of the announcement of quarterly results.

Read more about: tcs
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