India’s largest information technology company Tata Consultancy Services on Thursday said it has recorded a 10.9% jump in profit, at Rs 6,778 crore, in the third quarter of the year. In the same quarter for the previous year 2015-2016, the company’s net profit was reported to be Rs 6,110 crore.
TCS’ revenue was up by 8.7% at Rs 29,735 crore in the said quarter. Its net profit for this quarter saw a 2.9% quarterly jump, while revenue grew 1.5% in the said quarter. TCS declared a dividend of Rs 6.5 per share and its earnings per share stood at Rs 34.40.
“Our strengths in Digital, Platforms and Cloud as well as our deep knowledge of the customers’ domain are driving our ability to play a strategic role and make a holistic impact on the business,” TCS Chief Executive Officer and Managing Director N Chandrasekaran said. TCS Chief Financial Officer Rajesh Gopinathan said along with a good growth performance, the company has been able to deliver over US $1 billion in free cash flow during the quarter.
Employee addition for the said quarter stood at 18,362, taking the overall count to 3,78,497, it said. The percentage of women employees in the company also went up to an all-time high of 34.6%. “We are also happy that our retention rates continue to rise as we remain engaged with our employees to help them succeed in a digital world,” TCS Executive Vice President and Global Head (HR) Ajoy Mukherjee said.
The company released their Q3 revenues soon before their chief N Chandrasekaran was appointed Tata Sons’ next chairman.
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