TCS Q3 net profit jumps 2% to ₹11,058 cr
Tata Consultancy Services' consolidated revenue grows 4% year-on-year to ₹60,583 crore in Q3.
Tata Consultancy Services' consolidated revenue grows 4% year-on-year to ₹60,583 crore in Q3.
Most of global brokerage houses have maintained cautious stances on TCS shares post its December quarter results.
The IT heavyweight has reported 10.98% YoY rise in its consolidated net profit at ₹10,883 crore, while consolidated revenue from operations jumped 19.11% YoY to ₹58,229 crore.
Tata Consultancy Services reports net profit of ₹10,883 crore for Q3, up 11% year-on-year.
The IT heavyweight is likely to report moderate growth in the top and bottom line, while margins are expected to improve due to ease in supply side pressure.
CEO Rajesh Gopinathan says Q3 was one of the best quarters TCS has “enjoyed” in many years, as “the broad-based nature of the growth is the stand-out feature.”
Total revenue jumped to ₹48,885 crore during the quarter ended December 31, 2021, as against ₹42,015 crore during the same period a year ago.
Brokerage houses expect Infosys to raise its FY22 revenue growth guidance, while wage hikes and hiring might hit margins for the IT majors.
India’s biggest IT company grew at the slowest pace among peers, reported flat profit in Q3. CEO Rajesh Gopinathan termed the muted performance as a “short-term phenomenon”.