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Rediff.com  » Business » TCS Q2 profit rises 8.4% YoY to Rs 6,446

TCS Q2 profit rises 8.4% YoY to Rs 6,446

October 12, 2017 17:42 IST

TCS registered revenues at Rs 30,541 crore in the second quarter of 2017-18, up 4.3 per cent from Rs 29,284 crore in the year-ago period.

Tata Consultancy Services (TCS), India's largest software services company, reported an 8.4 per cent sequential rise in net profit at Rs 6,446 crore for the July-September quarter on the back of improved business from clients.

The company announced dividend of Rs 7 per share.

The Mumbai-based company had posted net profit of Rs 6,586 crore in the July-September quarter of last fiscal, the company said in a BSE filing.

 

TCS registered revenues at Rs 30,541 crore in the second quarter of 2017-18, up 4.3 per cent from Rs 29,284 crore in the year-ago period.

"We experienced robust volume growth in Q2, driven by good demand across multiple industry verticals... Large deal wins this quarter, a good pipeline, and bottoming out of the retail sector softness positions us well," TCS CEO and MD Rajesh Gopinathan said.

He added that the company continues to gain share in the fast growing 'digital spend' of its customers.

"Our investment programme remains geared for growth. Continued investments in digital design and transformational capabilities are paying off, and it shows in the strong growth in our Digital business," TCS CFO V Ramakrishnan said.

TCS' digital revenue saw an increase of 31 per cent year-on-year and accounted for 19.7 per cent of the company's revenues.

During the quarter, TCS saw its IT attrition rate (LTM) come down by 0.3 per cent sequentially to 11.3 per cent. It added 15,868 employees (gross) and 3,404 people (net) in the September 2017 quarter, taking its total headcount to 389,213 people.

The company recruited 3,725 employees outside India, bringing the total to 6,979 in the first half of the fiscal year.

Photograph: Danish Siddiqui/Reuters

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