Tata Consultancy Services (TCS) has posted a net profit of Rs 9,769 crore for the period ended December 31. Net profit stood at Rs 8,701 crore in the same period last year. India’s largest IT services exporter saw growth across all industry verticals in the third quarter of FY12.
Revenue from operations rose to Rs 48,885 crore, up 16.3 per cent year-on-year during the third quarter of FY22. The IT giant’s revenue stood at Rs 42,015 crore in the same period a year ago. In constant currency terms, revenue increased 15.4 percent.
TCS’ net cash from operations stood at Rs 10,853 crore during the quarter under review.
Commenting on the December quarter results, Rajesh Gopinathan, Chief Executive Officer and Managing Director, said, “Our continued growth momentum is a validation of our collaborative, insider approach to the business transformation needs of our clients. Clients love our engagement model, our full potential and our do-it-yourself approach to the problem
to solve. While mapping their innovation and growth journey, we are also helping them execute new-age operating model transformations to support those journeys. ,
TCS also announced third interim dividend of Rs 7 per share. The record date for dividend has been set as January 10 and the dividend will be credited by February 7.
The Bengaluru headquarters also approved share buyback at Rs 4,500 per share at a premium of 16.67 per cent over the last traded price of the stock. The company will buy back shares worth Rs 18,000 crore.
With the number of women in its workforce crossing 200,000, TCS crossed a new milestone in its diversity journey in Q3, the company said. The IT giant added 28,238 employees on a net basis, taking the total workforce to 556,986 as of December 31, 2021. The absenteeism rate for IT services was 15.3 percent in the third quarter.
N Ganapathi Subramaniam, Chief Operating Officer and Executive Director, said: “We have focused our attention on organically growing and developing talent, methodologies and toolkits for the ever-evolving technology landscape. This, combined with our relevant knowledge and the passion and commitment of thousands of TCSers, enables us to deliver state-of-the-art solutions during the quarter, and helps our customers realize the momentum of value. We are delighted to cross another important milestone in our journey
Revenue mark of $25 billion in CY 2021.
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