TCS Q2 consolidated net profit rises 7% q-o-q to Rs 9,624 cr

Revenue from operations jumps 17% to Rs 46,867 cr

Indian IT services major Tata Consultancy Services (TCS) on Friday reported 29% jump in consolidated net profit at Rs 9,624 crore for the quarter ending September 2021. It was Rs 7,475 crore in the year-ago period. Net profit rose 7% in sequential terms.

Revenue from operations rose 17% to Rs 46,867 crore as against Rs 40,135 crore in the year-ago period.

Shares of Tata Consultancy Services hit a new high at Rs 3,990, up 2.5 per cent on the BSE in Friday’s intra-day trade, and have now gained 5 per cent in the last two trading sessions, ahead of the July-September quarter results. The stock surpassed its previous high of Rs 3,981.55 touched on September 16, 2021.

The company's board also approved a Rs 7 per share interim dividend for the shareholders of the company.

Rajesh Gopinathan, Chief Executive Officer and Managing Director, TCS, 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. 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 isthe most sustainable pathway to create longer term value for all our stakeholders.”

Samir Seksaria, Chief Financial Officer, said: “Strong growth and disciplined execution helped us overcome headwinds from currency and supply-side inflation and deliver expanded margins. Our industry-leading profitability and strong cash conversion give us the wherewithal to make the right investments needed to build out the business of the future.”