TCS posts 11 pc surge in net profit to Rs 10,883 cr during December quarter

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MUMBAI: Tata Consultancy Services (TCS) on Monday reported 10.98 per cent surge in its consolidated net profit to Rs 10,883 crore for the quarter ended December 2022 (Q3FY23). The company had posted a profit of Rs 9,806 crore in the year-ago period.

TCS reported a 19.1 per cent year-on-year growth in its revenue for the quarter ended December 2022. The software giant said net income grew 11 per cent to Rs 10,846 crore during the December quarter whereas its net margin was at 18.6 per cent, according to a statement released on Monday.

TCS said a 35.7 per cent of its total workforce were women and were of 153 nationalities. The total shareholders’ payout was Rs 33,297 crore till date.

Rajesh Gopinathan, Chief Executive Officer and Managing Director, said: “We are pleased with our strong growth in a seasonally weak quarter, driven by cloud services, market share gains through vendor consolidation, and continued momentum in North America and UK.”

“The sustained strength of demand for our services is a validation of the value we provide to our clients in helping them differentiate themselves, while enhancing their competitiveness. Looking ahead, and beyond current uncertainties, our longer-term growth outlook remains robust.”

N Ganapathy Subramaniam, Chief Operating Officer and Executive Director, said: “As I look back at 2022, it’s gratifying to see the privileged partnership that we continue to enjoy with our clients globally. In a hybrid working model we delivered many complex transformation programmes tailored to the specific needs of our clients’ ecosystem with speed and agility.”

He said the year also saw the company embracing data, artificial intelligence (AI) and machine learning (ML) holistically to disrupt the company and drive competitive advantage to its clients’ businesses. “All these augur well for our future as we step into 2023,” he added. (ANI)

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