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techkenyot.com October 17, 2017


TCS Q2 earnings up 8.4% sequentially to Rs 64.46 bn

12 October 2017, 05:02 | Hattie Nash

Reuters

Reuters

"Large deal wins this quarter, a good pipeline, and bottoming out of the Retail sector softness positions us well", TCS CEO and MD Rajesh Gopinathan said while presenting the compnay's quarterly report.

The company, known as TCS, said net income in the quarter ended in September was 64.46 billion rupees ($985 million), compared with 65.86 billion rupees a year earlier, according to a statement.

Digital revenue, which contributed 19.7 percent to total revenue, grew by 5.9 percent (in constant currency) in the quarter gone by.

TCS' operating margins expanded 1.7 percentage points sequentially to 25.1% in the quarter, aided by a decline the value of Indian rupee against the US dollar and cross-currency gains.

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TCS has added 1 client in USD 100 million category; 6 clients each in USD 50 million, USD 20 million and USD 10 million bands; and 28 clients in USD 1 million category.

TCS registered revenues at Rs 30,541 crore in the second quarter of financial year 2017-18, which is a 4.3 per cent increase from Rs 29,284 crore seen for the same period last fiscal, and 3.2 per cent as opposed to last quarter.

TCS said most businesses, barring financial services and retail, grew above 9.5% in the last quarter.

In terms of equity volume, 1.87 lakh shares of the company were traded on BSE during the day and over 25 lakh shares changed hands on NSE during the day.

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Research firm Emkay Global believes that company has delivered strong growth and profitability performance despite sustained pricing pressure and weak rupee realisations. Margins have done well.

New Delhi, Oct 12 Shares of Tata Consultancy Services (TCS) today rose by almost 2 per cent ahead of its September quarter earnings announcement later in the day. The company has fixed record date as October 26, 2017 for dividend payment.

In the course of September quarter, TCS saw its IT attrition rate (LTM) come down by 0.3 per cent sequentially to 11.3 per cent.

TCS, part of salt-to-software conglomerate Tata Group, said it added 15,868 employees in the quarter.

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TCS is the first among India's software services exporters to report earnings for July-September.



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