TCS Q3 net profit up 24.1% to Rs 8,105 crore; revenue rises 20.8%

Revenue rose 20.8 percent to Rs 37,338 crore from year-ago period.

New Delhi: IT services major Tata Consultancy Services (TCS) net profit grew 24.1 percent to Rs 8,105 crore as compared to Rs 6,531 a year earlier a year ago for the period ending December 31, 2018, the company said on Thursday.

TCS said its income from operations grew 20.8 percent to Rs 37,338 crore while revenue from the BFSI segment surged 23 percent.

Sequential revenue growth was led by the U.K. and Europe, which rose 25.1 percent and 17.6 percent, respectively, TCS said in a statement.

“We are wrapping up 2018 with a strong revenue growth of 12.1 percent in the December quarter, which is the highest in 14 quarters, with continued growth acceleration in key verticals and across all geographies. The strong client metrics, industry leading growth in digital services, a very strong order book and deal pipeline are all validations that customers recognize our differentiated capabilities and are picking us for their growth and transformation programs,” Rajesh Gopinathan, Chief Executive Officer and Managing Director, said.

Digital accounted for 30.1 percent of the revenues, registering year-on-year growth of 52.7 percent.

During the October-December 2018 quarter, TCS added 6,827 people (net), taking the overall employee strength to 4,17,929 employees. Attrition rate was at 11.2 per cent on last twelve months (LTM) basis. The company has declared a third interim dividend of Rs 4 per equity share.