TCS Q2: Net profit rises by 8.3% to ₹10,431 cr
1 min read . Updated: 10 Oct 2022, 05:03 PM IST
PremiumTata Consultancy Services reported a 5.2 per cent rise in consolidated net profit to ₹9,478 crore for the July 2022 quarter while the consolidated revenue grew by 16.2 per cent to ₹52,758 crore
The country's largest software services firm, Tata Consultancy Services (TCS), on Monday reported a 8.3 per cent rise in consolidated net profit to ₹10,431 crore for the September 2022 quarter. This is against a net profit of ₹9,624 crore in the year-ago period, TCS said in a regulatory filing.
The consolidated revenue of the IT major grew by 18 per cent to ₹55,309 crore in the quarter under review from ₹46,867 crore a year ago.
The company's order book stood at $8.1 billion.
The company's board recommended a final dividend of ₹8 per equity share.
"Demand for our services continues to be very strong. We registered strong, profitable growth across all our industry verticals and in all our major markets. Our order book is holding up well, with a healthy mix of growth and transformation initiatives, cloud migration and outsourcing engagements. As clients prepare for a more challenging environment ahead, technologies like cloud that have been embraced now have to be fully leveraged to realize the promised value. TCS has the combination of contextual knowledge, technology expertise and execution rigor to deliver on this imperative," said CEO and MD, Rajesh Gopinathan.
During the first quarter of FY23, TCS consolidated PAT jumped to ₹9,478 crore from ₹9,008 crore in Q1FY22, however, declined from ₹9,959 crore in Q4FY22. Consolidated revenue rose to ₹52,758 crore compared to ₹45,411 crore in Q1FY22 and ₹50,591 crore in Q4FY22.
On Monday, the company's scrip on BSE closed trading 2 per cent higher at ₹3,121 a piece.
