TCS Q2 Results Highlights: Profit up 22.6% at Rs 7,901 crore

Tata Consultancy Services, country's biggest software exporter, today reported a 22.6 per cent YoY rise in profit at Rs 7,901 crore.

TCS Q2 Results Highlights: Profit up 22.6% at Rs 7,901 crore
TCS had reported a profit of Rs 6,646 crore in September last year.
By ZeeBiz WebTeam
Updated: Thu, Oct 11, 2018
05:44 pm
ZeeBiz WebDesk
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The country's largest software exporter TCS Thursday reported a 22.6 per cent jump in consolidated net profit at Rs 7,901 crore in the July-September 2018 quarter, buoyed by strong demand for digital services. Tata Consultancy Services (TCS) had posted a net profit of Rs 6,446 crore in the same period last fiscal, the company said in a statement.

1. The Tata group company saw a revenue growth of 20.7 per cent at Rs 36,854 crore in the September quarter

2. The company has declared a dividend of Rs 4 per share. 

3. IT services attrition rate was steady at 10.9 per cent on last 12 months basis.

4. Q2 FY19 Revenue at $ 5,215 million; up 10 % Y-o-Y and; 3.2% Q-o-Q

5. Q2 FY19 Revenue; In Constant Currency terms 11.5% Y-o-Y and 3.7% Q-o-Q 

6. Q2 FY19 Revenue at Rs.36,854 crore; up 20.7% Y-o-Y and 7.6% Q-o-Q

7. Q2 FY19 Net Profit at Rs.7,901 crore; up 7.6% Q-o-Q

8. Revenue growth was driven by expanding demand for digital transformation across verticals, and continued acceleration in BFSI and Retail: Rajesh Gopinathan, CEO & MD

9. We added 4 new clients in the $100M+ band, 7 in the $20M+ band, 10 in the $10M+ band and 11 in the $1M+ band: Rajesh Gopinathan, CEO & MD

10. Revenue growth in North America accelerated further to 8.1%, versus 7% growth in Q1: Rajesh Gopinathan, CEO & MD

11. UK and Europe regions lead growth by +22.8% and +17.4% Y-o-Y respectively: Rajesh Gopinathan

12. BFSI, Retail verticals continue to accelerate by +6.1% and +15.6% Y-o-Y respectively: Rajesh Gopinathan

13. This has been a very good quarter, with strong demand in areas like analytics, cloud and automation: N Ganapathy Subramaniam, Chief Operating Officer 

14. Even as we expand our investments to build on our lead in the Digital space, our disciplined operations, the improving growth trajectory and a supportive currency make our margins resilient: V Ramakrishnan, Chief Financial Officer

The net employee addition in September 2018 quarter was at 10,227 professionals, highest in 12 quarters, the company said. Total employees strength at the end of Q2 stood at 4,11,102 on a consolidated basis.