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Tuesday, October 19, 2021

Ramp-up in order books: TCS profit rises 14.12% in Q2

Its consolidated revenue during the July-September period increased by 16.8 per cent to Rs 46,867 crore, up from Rs 40,135 crore registered a year ago, driven by ramp-up in order books, recovery in India business and increase in digital spends by corporates.

By: ENS Economic Bureau | Mumbai |
October 9, 2021 6:17:08 am
Rajesh Gopinathan, MD and CEO, said: “The strong and sustained demand environment is a once-in-a-decade opportunity to position ourselves as the preferred growth and transformation partner for our customers.”

Tata Consultancy Services, India’s largest IT firm, on Friday reported a 14.12 per cent rise in consolidated net profit at Rs 9,624 crore for the quarter ended September 2021 as against Rs 8,433 crore logged in the same quarter of last year.

Its consolidated revenue during the July-September period increased by 16.8 per cent to Rs 46,867 crore, up from Rs 40,135 crore registered a year ago, driven by ramp-up in order books, recovery in India business and increase in digital spends by corporates.

Rajesh Gopinathan, MD and CEO, said: “The strong and sustained demand environment is a once-in-a-decade opportunity to position ourselves as the preferred growth and transformation partner for our customers.”

TCS shares gained 1.10 per cent at Rs 3,935.30 on the BSE on Friday.

“We are using the growth tailwind to invest in strengthening relevant capabilities and building out a comprehensive portfolio of offerings that caters to a broader set of stakeholders in the enterprise across business cycles, strengthening our brand, and making our business more resilient. We believe this is the most sustainable pathway to create longer term value for all our stakeholders,” Gopinathan said. All verticals showed double-digit YoY growth. All major markets showed strong growth, led by North America (17.4 per cent).

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