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TCS records modest 0.2 per cent profit growth at Rs 8,143 crore for third quarter this fiscal

BENGALURU : India’s largest IT services company, Tata Consultancy Services (TCS), on Friday reported a modest 0.2 per cent growth in net profit during the third quarter of the current financial year. The company’s net profit for Q3FY20 stood at Rs 8,143 crore, against Rs 8,121 crore it reported for the same quarter a year ago.

TCS said that its revenue grew by 6.7 per cent to Rs 39,854 crore in Q3FY20. The company also announced an interim dividend of Rs 5 per share. The operating margin for the quarter was at 25 per cent, whereas the net margin stood at 20.4 per cent.

“We saw the sectoral trends of the first half of the year continue to play out in the thirdquarter. 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,” said Rajesh Gopinathan, chief executive officer and managing director, TCS.

According to the company, its life sciences and healthcare segments continued to perform well, growing 17 per cent year-on-year, while manufacturing grew by 9.2 per cent and the communications and media sectors at 9.5 per cent. Other verticals that showed modest growth include BFSI (5.3 per cent), Retail & CPG (5.1), and Technology & Services (3.3).

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