Tata Consultancy Services posts net profit at Rs8,118cr in Q3FY20; up 1% qoq

Tata Consultancy Services posts net profit at Rs8,118cr in Q3FY20; up 1% qoq
Tata Consultancy Services posts net profit at Rs8,118cr in Q3FY20; up 1% qoq

Tata Consultancy Services (TCS), the leading global IT services, consulting and business solutions organization, reported a net profit of Rs8,118cr in Q3FY20, with a marginal growth of 1% on qoq basis as against a net profit of Rs8,042cr in Q2FY20.

The IT firm posted revenue increase of 2.3% at Rs39,854cr in Q3FY20 vs. Rs38,977cr in Q2FY20.

In terms of constant currency, revenues grew 6.8% yoy, with an operating margin of 25%.

Rajesh Gopinathan, Chief Executive Officer and Managing Director said: "We saw the sectoral trends of the first half of the year continue to play out in the third quarter. Our robust order book during the quarter reflects our ability to pitch innovative technology solutions to address the business needs of different stakeholders in the enterprise and participate in our customers' enterprise-wide transformation initiatives. This is also helping deepen and broaden our customer relationships, and make the business more resilient."

The board have declared a third interim dividend of Rs5 per equity share of Re. 1 each of the company.

Q3 Segment Highlights:
  • Industries: Revenue growth was led by Life Sciences & Healthcare (+17.1%), Communications & Media (+9.5%) and Manufacturing (+9.2%). Other verticals - BFSI (+5.3%), Retail & CPG (+5.1%) and Technology & Services (+3.3%)- showed more modest growth.
  • Markets: Growth was led by Europe (+15.9%) and MEA (+10.8%). and UK (+7.5%). North America and the Asia Pacific grew by 4.1% and 5.7% respectively. India grew 6.4% while Latin America grew +6.2%.
• Consulting & Services Integration: Saw strong growth in Q3, led by next-gen enterprise transformation services, M&A, divestiture and Supply Chain as a Service.
• Digital Transformation Services: The MFDM framework which integrates Automation, Analytics and Al have been central to many core transformation deals. Growth in Q3 was led by Enterprise Intelligent Automation, Cyber Security, loT and Enterprise Application Services.
• Cognitive Business Operations: Continuing to see strong growth in managed hybrid cloud services. TCS' new operating models leveraging service reliability engineering, AIOps powered by ignio and Agile are seeing strong traction. Q3 order book was the strongest in the last several quarters.

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