TCS posts 1.3% QoQ rise in Q3 PAT, in line with estimates
ETMarkets.com|
Updated: Jan 11, 2018, 06.04 PM IST
NEW DELHI: Tata Consultancy Services (TCS), the country's largest IT firm, on Thursday reported 1.3 per cent quarter-on-quarter (QoQ) rise in net profit at Rs 6,531 crore for the quarter ended December 31, 2017. It had posted net profit of Rs 6,446 crore in the sequential quarter ended September 30, 2017.
ET Now poll had predicted a net profit of Rs 6532.70 crore in Q3FY18.
In a filing to BSE, the IT major said that its total income for the quarter rose 1.32 per cent QoQ to Rs 31,774 crore for the quarter under review.
The company announced an interim dividend of Rs 7 per share. The third interim dividend will be paid to the equity shareholders on January 31, 2018.
Commenting on the Q3 performance, Rajesh Gopinath, CEO and MD said, "We wrapped 2017 with a strong performance in the December quarter, marked by the signing of industry-defining deals, robust client metrics and broad-based demand across industry verticals. As lagging parts of our portfolio turn around, and areas of softness reduce, we are well placed for stronger growth ahead."
The company added 3 clients in $50 million plus band, 7 in$20 million plus, 9 in $10 million plus and 15 in the $5 million plus band.
"We signed our first $50 million plus deal in digital this quarter, crossing an important milestone in the mainstreaming of digital technologies," Gopinathan said.
Total employee strength at the end of Q3 stood at 39,0880 on a consolidated basis, with gross addition of 12,534 employees and net addition of 1,667 employees during the quarter.
Profit before finance and cost increased by 2 per cent to Rs 8651 crore in Q3FY18 against Rs 8,479 crore in the sequental quarter ended September 30, 2017.
Shares of TCS settled 0.67 per cent down at Rs 2,788.40. The results were announced post market hours.
According to TCS, most industry verticals grew above company average in Q3. The retail and CPG vertical showed a strong turnaround, growing 6.4 per cent qoq. Growth was led by energy & utilities (up 8.5% qoq), travel & hospitality (up 2.9 per cent qoq) and life sciences & healthcare (up 2.5% qoq).
ET Now poll had predicted a net profit of Rs 6532.70 crore in Q3FY18.
In a filing to BSE, the IT major said that its total income for the quarter rose 1.32 per cent QoQ to Rs 31,774 crore for the quarter under review.
The company announced an interim dividend of Rs 7 per share. The third interim dividend will be paid to the equity shareholders on January 31, 2018.
Commenting on the Q3 performance, Rajesh Gopinath, CEO and MD said, "We wrapped 2017 with a strong performance in the December quarter, marked by the signing of industry-defining deals, robust client metrics and broad-based demand across industry verticals. As lagging parts of our portfolio turn around, and areas of softness reduce, we are well placed for stronger growth ahead."
The company added 3 clients in $50 million plus band, 7 in$20 million plus, 9 in $10 million plus and 15 in the $5 million plus band.
"We signed our first $50 million plus deal in digital this quarter, crossing an important milestone in the mainstreaming of digital technologies," Gopinathan said.
Total employee strength at the end of Q3 stood at 39,0880 on a consolidated basis, with gross addition of 12,534 employees and net addition of 1,667 employees during the quarter.
Profit before finance and cost increased by 2 per cent to Rs 8651 crore in Q3FY18 against Rs 8,479 crore in the sequental quarter ended September 30, 2017.
Shares of TCS settled 0.67 per cent down at Rs 2,788.40. The results were announced post market hours.
According to TCS, most industry verticals grew above company average in Q3. The retail and CPG vertical showed a strong turnaround, growing 6.4 per cent qoq. Growth was led by energy & utilities (up 8.5% qoq), travel & hospitality (up 2.9 per cent qoq) and life sciences & healthcare (up 2.5% qoq).
