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Business News » Companies News

TCS reports 11% rise in Q3 net profit

The shares of the company closed at Rs 2343, up 0.87% or Rs 20.25 on BSE.

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TCS reports 11% rise in Q3 net profit
The company's revenue climbed by 8.7% to Rs 29,735 crore on year-on-year basis. Photo: Official website
Written By: ZeeBiz WebTeam
Updated: Thu, Jan 12, 2017
04:25 pm
Mumbai, ZeeBiz WebDesk
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Tata Consultancy Services on Thursday reported a net profit of Rs 6778 crore, up by 10.9%, during the quarter ended on December 31 as compared to as on December, 2015 quarter. As against the previous quarter in the current fiscal, the company registered a rise of 2.9% in the net profit.

The company's revenue climbed by 8.7% to Rs 29,735 crore on year-on-year basis and on quarter-on-quarter basis it rose by 1.5%.

The Operating Profit (EBITDA) stood at Rs 7733 crore, increasing by 6.3% yoy and 1.5% qoq. While operating profit margins (OPM) stood at 26% this Q3. The digital revenues stood at 16.8% this Q3, which was up by 30.2% yoy. 

During Q3, growth was led by Energy and Utilities (up 5.8%), Hi-Tech (up 2.6%), BFSI (up 2.1%), manufacturing (up 2.1%) and retail (up 1.9%) in constant currency, said in a press release.

Commenting on the performance of the company, CEO and MD of N Chandrasekaran said, "The resillience of our business model and strength of our operating strategy has been brought to the fore by our performance in Q3, traditionally a quarter of weak demand.

"To support and sustain our Digital business that is growing at 30% on an annual basis, we continue to build new capabilities in Digital technologies, empower employees to enhance agility in the workplace and invest more to develop IP-based platforms and products."

The company in its release mentioned that from a geography perspective, emerging markets like Latin America and India clocked double digit growth of 12.5% and 10.3% sequentially respectively while North America grew 2.2% sequentially and UK grew 1.7% sequentially. 

The company's total employees strength during the quarter was 3,78,497, a gross addition of 18,362 employees.  

The shares of the company closed at Rs 2343, up 0.87% or Rs 20.25 on BSE.

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TAGS:
Tata Consultancy ServicesTCS Q3 resultsTCS Q3 net profitTCS Share PriceITTCS revenue
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