tcs: TCS Q2 net profit up 14.1% to Rs 9,624 crore

NEW DELHI: India’s largest software services company Tata Consultancy Services (TCS) on Friday announced a 14.1% increase in consolidated net profit to Rs 9,624 crore in the September 2021 quarter.
The company had recorded a net profit of Rs 8,433 crore (excluding adjustment) during the period last year, TCS said in a regulatory filing.
Net profit excluded the provision of Rs 1,218 crore for legal action. Including this number, net profit for the September 2020 quarter was Rs 7,475 crore.
Its revenue increased 16.7% to Rs 46,867 crore for the September 2021 quarter, from Rs 40,135 crore a year ago.
The high and sustained demand environment is a unique opportunity to position the company as the preferred growth and transformation partner for its customers, said Rajesh Gopinathan, CEO and Managing Director of TCS.
“We are using the growth winds to invest in building relevant capacity and building a comprehensive portfolio of offerings that reaches out to a broader set of business stakeholders across business cycles, strengthening our brand and making our business more resilient.
“We believe this is the most sustainable way to create long-term value for all of our stakeholders,” he added.
The company also announced an interim dividend of Rs 7 per share.
“Strong growth and disciplined execution have helped us weather the headwinds of currency and supply inflation and drive increased margins. Our industry-leading profitability and strong cash conversion empower us to make the right investments necessary to grow the business of the future, ”said Samir Seksaria, CFO of TCS.
The company added 19,690 people (net), bringing its workforce to 5,28,748 people.

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Margie D. Carlisle

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