[Mumbai] Tata’s Consultancy Services[ TCS ] Down By 3.6% So Share Falls @ Rs 18.70
Share Price Of
BSE Category 2788.40-18.70
NSE-2790.50-16.10
Country’s largest IT firm Tata Consultancy Services (TCS) today said its net profit fell 3.6 per cent to Rs 6,531 crore in the December 2017 quarter.
The Mumbai-headquartered company had posted a net profit of Rs 6,778 crore in the October-December quarter of the previous fiscal, the company said in a BSE filing.
Its income from operations during the quarter under review stood at Rs 30,904 crore, up 3.9 per cent from Rs 29,735 crore in the year-ago period, as per Indian Accounting Standard (Ind-AS).
The company has declared a dividend of Rs 7 per share.
TCS CEO and MD Rajesh Gopinathan said.
“We wrapped 2017 with a strong performance in the December quarter… . As lagging parts of our portfolio turn around, and areas of softness reduce, we are well placed for stronger growth ahead,”
He added that the company signed its first over USD 50 million deal in ‘Digital’ this quarter.
TCS COO and Executive Director N Ganapathy Subramaniam said.,New deal ramp-ups, increasing traction in Digital, robust demand pick up in Retail and continuing momentum in most of TCS’ industry verticals gave the company strong volume growth in a seasonally weak quarter,
TCS’ digital revenue saw an increase of about 40 per cent year-on-year and accounted for 22.1 per cent of the company’s revenues.
During the quarter, TCS saw its IT attrition rate (LTM) coming down 0.2 per cent sequentially to 11.1 per cent. It added 12,534 employees (gross) in the December 2017 quarter, taking its total headcount to 3,90,880 people.
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