TCS Q3FY22 Earnings: Net income up 12.3% YoY at Rs 9,769 cr; company announces Rs 18,000 cr buyback valued at 4,500 per share
Information Technology bellwether Tata Consultancy reported a net income at Rs 9,769 cr for the quarter ended 31 December 2021, which was up over 12.3 per cent Year-on-Year (YoY) while its net margins rose by 20 per cent during this period, the company said in its filing to exchanges.
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The TCS Board also announces share buyback which is valued at Rs18,000 Cr at Rs 4,500 per share.
Highlights of the Quarter Ended December 31, 2021
• Revenue at `48,885 crore, +16.3% YoY; +15.4% CC YoY
• Industry-Leading Operating Margin at 25%; -1.6% YoY
• Net Income at `9,769 crore, +12.3% YoY | Net Margin at 20%
• Strong Client Addition: 10 New $100Mn+ Clients (total: 58); 21 new $50Mn+ clients (total: 118)
• Net Cash from Operations at `10,853 crore ie 111.1% of Net Income
• Net headcount addition of 28,238 |Workforce strength: 556,986
• Diverse and Inclusive: Women Employees Exceed 200,000; +68% growth in women at senior levels during 2016-21 | 156 Nationalities represented
• Building a G&T workforce: 100K+ market relevant skills gained in Q3 | 38K+ Contextual Masters identified
• LTM IT Services attrition rate at 15.3%; lowest in the industry
• Board recommends a buyback of shares to the tune of Rs 18,000 Cr at Rs 4,500 per share
• Dividend per share: Rs 7 | Record date 20/01/2022 | Payment date 07/02/2022
“Our continued growth momentum is a validation of our collaborative, inside-out approach to our customers’ business transformation needs. Page 2 of 11 Customers love our engagement model, our end-to-end capability, and our can-do approach to problem solving. While mapping out their innovation and growth journeys, we are also helping them execute new-age operating model transformations to support those journeys,” Rajesh Gopinathan, Chief Executive Officer and Managing Director, said.
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