IT bellwether Tata Consultancy Limited (TCS) today reported an 8.4 per cent year-on-year jump in its net income at Rs 10,431 cr for the quarter ended 30 September, the company informed in its filing to the exchanges. The revenue for the reporting quarter stood at Rs 55,309 cr which was higher by 18 per cent YoY.

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In constant currenct terms the revenue growth recorded for the July-September quarter is up over 15 per cent, the filing said. 

“Demand for our services continues to be very strong. We registered strong, profitable growth across all our industry verticals and in all our major markets. Our order book is holding up well, with a healthy mix of growth and transformation initiatives, cloud migration and outsourcing engagements. As clients prepare for a more challenging environment ahead, technologies like cloud that have been embraced now have to be fully leveraged to realize the promised value. TCS has the combination of contextual knowledge, technology expertise and execution rigor to deliver on this imperative,” Rajesh Gopinathan, Chief Executive Officer and Managing Director said.

TCS Q2FY23 result were declared after market hours. The shares today ended at Rs 3,124 on the NSE and were up by Rs 59.10 or 1.93 per cent from the Friday closing price.

Key Takeaways:

Highlights of the Quarter Ended September 30, 2022
• Revenue at Rs 55,309 crore, +18% YoY
• Constant Currency revenue growth: +15.4% YoY
• Order Book at $8.1 billion | Book to Bill at 1.2
• Operating Margin at 24%; contraction of 1.6% YoY
• Net Income at `10,431 crore, +8.4% YoY | Net Margin at 18.9%
• Net Cash from Operations at Rs10,675 crore i.e. 102.3% of Net Income
• Net headcount addition of 9,840 |Workforce strength: 616,171
• Diverse and inclusive workplace: Women in the workforce: 35.7% | 157 Nationalities
• Building a G&T workforce: 11.7 million learning hours clocked | 1.5 million competencies acquired
• LTM IT Services attrition rate at 21.5%
• Dividend per share: Rs 8.00 | Record date 18/10/2022 | Payment date 07/11/2022

Segment wise growth 

Industries: Growth was led by Retail and CPG (22.9%), Communications & Media (+18.7%), and Technology & Services (+15.9%).

Manufacturing as well as Life Sciences & Healthcare verticals grew +14.5%,

BFSI grew +13.1%.

Markets:

Among major markets, North America led with +17.6% growth;

Continental Europe grew +14.1% and UK grew +14.8%.

In emerging markets, India grew +16.7%, Latin America grew +19.0%, Middle East & Africa grew +8.2% and Asia Pacific grew +7.0%.