TCS’ Q3 net rises 8.2% to Rs 11,735 cr

Mumbai: India’s largest software exporter on Thursday reported an 8.2 per cent growth in net profit for the December quarter at Rs11,735 crore. The company said its revenue for the reporting quarter grew 4 per cent to Rs60,583 crore driven by strong double-digit growth in emerging markets, led by India.

The Board of Directors has declared a third interim dividend of Rs9 and a special dividend of Rs18 per equity share of Re1 each.The company’s workforce stood at 603,305 as on December 31, 2023. K Krithivasan, CEO & MD, TCS, said: “Our strong performance in a seasonally weak quarter buffeted by macroeconomic headwinds, demonstrates the strength of our business model with a well-diversified portfolio and a customer-centric strategy. We are seeing strong deal momentum across markets resulting in a solid order book providing visibility into our long-term growth. We are seeing tremendous interest in Generative AI and are leading the innovation and exploratory efforts for our customers in this area.”

N. Ganapathy Subramaniam, COO & ED, adds: “The quarter saw us make significant progress in many projects of national importance, demonstrating our execution strength. Our products and platforms had a strong quarter with new wins and go-lives. The MCX platform is scaling well and processing record transaction volumes. We are on course with the BSNL 4G/5G network roll out. We are making good progress in upskilling our employees in Generative AI through our AI playground platform.”

The topline growth was also led by energy, resources and utilities, manufacturing, and life sciences & healthcare, the company said in a statement. Operating margin improved by 50 bps to 25 per cent, the company said, while net margin stood at 19.4 per cent. The company’s order book stood at $8.1 billion, it said, adding net cash from operations stood at

Rs 11,276 crore.