November 05, 2024 16:29 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Union Minister HD Kumaraswamy booked for threatening cop probing into mining case | Supreme Court upholds validity of Uttar Pradesh Madrasa Education Act | Not all private properties are community resources that govt can take over: Supreme Court | Pakistan's Lahore has become world's most polluted city with an AQI of 1900 on Sunday | Indian Army 'successfully completes' patrolling to a key point in Ladakh's Depsang region
TCS 2FY22 profit jumps 14.1 pc y-o-y
TCS Q2FY22

TCS 2FY22 profit jumps 14.1 pc y-o-y

| @indiablooms | 09 Oct 2021, 12:56 am

Bengaluru/IBNS: Tata Consultancy Services (TCS) on Friday reported a consolidated net profit of Rs 9,624 crore for Q2FY22 posting a 14.1 percent year-on-year (YoY) growth.

India's biggest IT firm's growth was driven by broad-based demand and resilient margins and other income that grew 21.6 percent YoY (up 54.1 percent QoQ).

The growth in profits on YoY basis was calculated after the adjustment for provision for legal claim reported by the company in September 2020 quarter.

The reported profit growth was 28.7 percent YoY.

The company's consolidated revenue in the quarter-ended September stood at Rs 46,867 crore, up 16.8 percent compared to the year-ago quarter, with double-digit growth across business verticals, led by growth in order books, recovery in its India business and surge in digital spends by corporates.

The revenue surge in constant currency was registered in at 15.5 percent YoY.

"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," said Rajesh Gopinathan, Chief Executive Officer and Managing Director. The board has approved his reappointment as MD and CEO for next five years.

"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 is the most sustainable pathway to create longer term value for all stakeholders," Gopinathan added.

On a sequential basis, profit rose 6.8 percent and the revenue rose by 3.2 percent in Q2FY22.

The company gained five new clients in $100 million plus category, after which the total number of clients stood at 54, and 17 new clients in the $50 million-plus band where now it has 114 clients.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.