TCS posts 3.94 per cent dip in consolidated net in Q3

Postado Janeiro 12, 2018

A Bloomberg poll of experts predicted consolidated net profit and revenue to be at Rs 6,532 crore and Rs 31,000 crore in Q3FY18.

TCS has invested almost United States dollars 3 billion in the U.S. over the past three years and is among the top two job creators in IT services in the U.S. It is also one of America's 50 most community-minded organizations, engaging almost two million Americans through its extensive nationwide STEM education programs, academic partnerships and endowments to schools such as Carnegie Mellon University, Cornell Tech and Massachusetts Institute of Technology.

Rajesh Gopinathan, CEO and MD of TCS said, "We wrapped 2017 with a strong performance in December quarter, marked by the signing of industry-defining deals, robust client metrics and broad-based demand across industry verticals".

Digital revenue, which formed 22.1 per cent of total revenue for the quarter, was up 39.6 per cent year-on-year and up 13.9 per cent quarter-on-quarter.

The company signed its first $50 million plus digital deal in this quarter, which is an important milestone in the mainstreaming of digital technologies for the company.

"Revenue growth is expected at 1.2 percent QoQ and 9.1 percent YoY".

This was the company's strongest volume growth for the December quarter in three years.

At a press conference at the TCS headquarters, Gopinathan disclosed that Europe led the growth among geographies with a 2.6 per cent growth over the second quarter.

CLSA said CY17 saw a better-than-feared year for IT sector even as growth & earnings disappointed.

This was TCS' third straight dip in quarterly net profit. "TCS is proud to partner with Transamerica in its ongoing transformation to enhance its customer experience, and looks forward to welcoming their current employees for new careers at TCS".

TCS said,"Employee reskilling initiatives, focused on building digital competencies at scale using anywhere anytime access, are helping employees stay relevant at a time of technology change".

NB: What has been the employee addition for the quarter and attrition rate?

It needs to be noted, that the percentage of women in TCS rose further to 35.2% in Q3. When contacted, Nasscom president R Chandrashekhar said, "We have ourselves been saying this single number no longer represents the totality of what's happening in the industry".

Rajesh Gopinathan, the CEO and MD of TCS pointed out that Europe is likely to become its second largest market after the USA, sometime in the next four quarters.

At 1:43 pm, shares in TCS were trading 0.80 per cent lower at Rs 2,766 on the BSE, whose benchmark Sensex index was down 5 points at 34,498.