TCS Q3 Results: Net Profit Rises 4 Per Cent To Rs 11,058 Crore; Revenue Jumps 4 Per Cent
TCS board also approved dividend of Rs 27 per share, including special dividend of Rs 18 for the financial year 2023-2024
Tata Consultancy Services (TCS), India's largest IT services firm, on Thursday clocked a net profit of Rs 11,058 crore the October-December (Q3) quarter of the current financial year, 2 per cent higher than Rs 10,846 crore in the same quarter in the previous year.
In an exchange filing, TCS said that its consolidated revenue rose 4 per cent to Rs 60,583 crore from Rs 58,229 crore in the same quarter last year. The company's EBIT margin, or the operating margin, was up to 25 per cent from 24.3 per cent in the previous quarter. Its net margin was 19.4 per cent.
The IT firms' net income grew 8.2 per cent to Rs 11,735 crore. The EBIT margin or the operating margin was up to 25 per cent, a rise from 24.3 per cent in the previous quarter.
The top line growth was also led by energy, resources and utilities, manufacturing, and life sciences & healthcare, the company said in a statement. Operating margin improved by 50 bps to 25 per cent, the company said, while net margin stood at 19.4 per cent.
TCS' order book stood at $8.1 billion, it said, adding net cash from operations stood at Rs 11,276 crore.
Net attrition at TCS was logged at 13.3 per cent.
TCS board also approved dividend of Rs 27 per share, including special dividend of Rs 18 for the financial year 2023-2024.
K Krithivasan, chief executive officer and managing director at TCS, said, "We are seeing strong deal momentum across markets resulting in a solid order book providing visibility into our long-term growth. We are seeing tremendous interest in Generative AI and are leading the innovation and exploratory efforts for our customers in this area.”
Milind Lakkad, chief human resource officer at TCS, said, "We expect to be back to our normal operating mode by the end of the current fiscal year. Parallelly, attrition is trending down and at 13.3 per cent, is now in our range of comfort. We are committed to hiring from college campuses and growing talent organically.”
Shares of TCS closed at Rs 3,736.20 apiece, up 0.61 per cent on the BSE on Thursday.
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