TCS profit rises 8.38%, crosses Rs.10,000 cr in Q2
Total revenue for the quarter jumped 18 per cent to Rs 55,309 crore from Rs 46,867 crore. While constant currency revenue growth was at 15.4 per cent, order book was at $8.1 billion, TCS said.
Tata Consultancy Services, India’s largest IT company, has posted an 8.38 per cent rise in net profit at Rs 10,431 crore for the second quarter (Q2) ended September 2022 as against Rs 9,624 crore in the same period a year ago.
Total revenue for the quarter jumped 18 per cent to Rs 55,309 crore from Rs 46,867 crore. While constant currency revenue growth was at 15.4 per cent, order book was at $8.1 billion, TCS said.
Rajesh Gopinathan, MD and CEO, said: “Demand for our services continues to be very strong. We registered strong, profitable growth across all our industry verticals and in all our major markets. Our order book is holding up well, with a healthy mix of growth and transformation initiatives, cloud migration and outsourcing engagements.”
TCS shares closed 1.84 per cent higher at 3,121.20 on the BSE on Monday.
“As clients prepare for a more challenging environment ahead, technologies like cloud that have been embraced now have to be fully leveraged to realize the promised value. TCS has the combination of contextual knowledge, technology expertise and execution rigor to deliver on this imperative,” Gopinathan said.
Growth was led by retail and CPG (22.9 per cent), communications & media (18.7 per cent), and technology & services (15.9 per cent). Manufacturing as well as life sciences & healthcare verticals grew 14.5 per cent, while BFSI grew 13.1 per cent.
Among major markets, North America led with 17.6 per cent growth, continental Europe grew 14.1 per cent and the UK grew 14.8 per cent. In emerging markets, India grew 16.7 per cent, Latin America grew 19.0 per cent, Middle East & Africa grew 8.2 per cent and Asia Pacific grew 7.0 per cent, the company said.
“We are pleased that our office facilities are becoming once again the place of buzz with more and more of our employees and clients celebrating togetherness to realize their full potential,” said N Ganapathy Subramaniam, ED and COO.
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