TCS Q3 results: Net profit jumps by 11.59% to ₹12,380 crore
TCS said its employee base decreased over 5,000 to 6,07,354 at the end of the quarter.
Tata Consultancy Services (TCS) on Thursday reported a nearly 12 per cent jump in net profit to ₹12,380 crore in the third quarter, PTI reported.
The IT services major had reported a net profit of ₹11,058 crore in the year-ago period and ₹11,909 crore a quarter earlier.
According to the Q3 results, TCS' total income increased by 6.13 per cent to ₹65,216 crore in the quarter from ₹61,445 crore in the year-ago period and was higher than the preceding September quarter's ₹64,988 crore.
The overall expenses grew 6.33 per cent to ₹48,550 crore from the ₹45,658 crore in the year-ago period, the PTI report added.
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The TCS scrip closed 1.72 per cent down at ₹4,036.65 apiece on the BSE on Thursday, as against a 0.68 per cent correction on the benchmark.
The company in a statement said its employee base decreased over 5,000 to 6,07,354 at the end of the quarter.
The company's total order book stood at $10.2 billion during the quarter, compared with $8.6 billion in the previous quarter and $8.1 billion in the year-ago period, Reuters reported.
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TCS leads India's software services sector
According to a Bloomberg report, TCS leads India's $250 billion software services sector that helps global clients such as Apple Inc. and Bank of America Corp. with business continuity as well as offerings in cloud computing, automation and artificial intelligence.
The new year brings in fresh challenges for corporations including TCS as Donald Trump takes office as the new US president, potentially fanning the debate around H-1B work visas used by Indian IT firms to send engineers and developers to its biggest market.
The US Federal Reserve, which cut rates last month, expects elevated inflation and fewer rate cuts in 2025, factors that could weigh on client sentiment, the Bloomberg report added.
(With agency inputs)
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