Industry

TCS Q3 net profit rises 7.2 pc; logs strongest third quarter growth in 9 years

A view of the Tata Consultancy Services. File   | Photo Credit: Getty Images

The country’s largest software services firm TCS on Friday reported a 7.2% rise in consolidated net profit to ₹8,701 crore for the December 2020 quarter.

This is against a net profit of ₹8,118 crore in the year-ago period, Tata Consultancy Services (TCS) said in a regulatory filing.

Revenue of the city-based firm grew 5.4% in the quarter under review to ₹42,015 crore from ₹39,854 crore in the corresponding period last fiscal, it added.

This is the strongest December quarter growth in nine years, TCS said.

“Growing demand for core transformation services and strong revenue conversion from earlier deals have driven a powerful momentum that helped us overcome seasonal headwinds and post one of our best performances in a December quarter,” Rajesh Gopinathan, chief executive officer and managing director at TCS, said.

He added that the company is entering the new year on an “optimistic note” and its market position stronger than ever before.

Mr. Gopinathan said TCS’ confidence reinforced by the “continued strength in our order book and deal pipeline”.

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Printable version | Mar 7, 2021 8:26:12 PM | https://www.thehindu.com/business/Industry/tcs-q3-net-profit-rises-72-pc-logs-strongest-third-quarter-growth-in-9-years/article33530290.ece

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