TCS' consolidated net profit rose 0.95% to Rs 8,118 crore on 2.25% increase in net sales to Rs 39,854 crore in Q3 December 2019 over Q3 December 2018.
The IT major unveiled Q3 results after trading hours today, 17 January 2020. Shares of TCS fell 0.91% to end at Rs 2218.05 on Friday.TCS reported 0.20% year-on-year rise in net profit compared with Rs 8,105 crore net profit reported for the same quarter last year. Revenue for the quarter rose 6.7% compared with Rs 37,338 crore in the year-ago period. In constant currency terms, revenues grew 6.8% year on year, with operating margin expanding to 25%.
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The IT firm announced an interim dividend of Rs 5 per share for the quarter.
During the quarter, segments such as life sciences and healthcare grew 17.1% YoY. Manufacturing grew 9.2% while communications and media at 9.5%.
Among the geographies, growth was led by Europe (up 15.9%) and Middle East and Africa (10.8%) and the UK (up 7.5%). Key geography North America grew 4.1%, Asia Pacific was up 5.7%, India up 6.4% and Latin America grew 6.2%.
The company said that it added 22,390 employees year-to-date. A total of 93% of the 30,000 freshers onboarded in the first half deployed in projects.
Commenting on the Q3 performance, 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."
N Ganapathy Subramaniam, chief operating officer & executive director, said: "In a seasonally weak quarter characterized by furloughs across multiple industry verticals, we focused on execution, while continuing to invest for future growth. Having onboarded over 30,000 trainees in the first half of the year, we worked on driving up utilization in Q3 and had good outcomes. Our client metrics were also very good, with additions across most revenue buckets."
V Ramakrishnan, chief financial officer, said, "Our ability to expand our margins in a volatile environment speaks of the strength of our business model, strong execution foc:us and the higher quality revenues we are getting on account of our strong positioning in our customers' growth and transformation spends."
TCS is an IT services, consulting and business solutions organization that has been partnering with many of the world's largest businesses in their transformation journeys for the last fifty years.
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