TCS Reports 11.95% Jump in Q3 Net Profit to Rs 12,380 Crore
Tata Consultancy Services (TCS), India’s largest IT services exporter, announced an 11.95% increase in net profit for the December quarter, amounting to Rs 12,380 crore.
Mumbai: Tata Consultancy Services (TCS), India’s largest IT services exporter, announced an 11.95% increase in net profit for the December quarter, amounting to Rs 12,380 crore.
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This compares to a net profit of Rs 11,058 crore during the same period last year and Rs 11,909 crore in the previous quarter.
Strong Revenue Growth
The company’s total income surged by 6.13% to Rs 65,216 crore, up from Rs 61,445 crore in the year-ago period. This was also a slight increase from the preceding quarter’s revenue of Rs 64,988 crore.
Also Read: Indian Stock Market Ends Lower as Q3 Results Season Kicks Off
Rise in Expenses
TCS’s overall expenses grew by 6.33%, reaching Rs 48,550 crore, compared to Rs 45,658 crore in the previous year.
Stock Performance
Despite the positive financial results, TCS’s stock closed 1.72% lower at Rs 4,036.65 on the Bombay Stock Exchange (BSE), underperforming against a 0.68% correction in the benchmark index.
Employee Count Declines
In a statement, TCS revealed that its employee base had decreased by over 5,000, bringing the total number of employees to 6,07,354 at the end of the quarter.
