TCS Q3 Results

Tata Consultancy Services Ltd (TCS) pleasantly surprised the Street with a 5.3% sequential rise in consolidated revenue for the quarter ended December to Rs 58,229 crore. The revenue was above the ET Now poll of Rs 56,893 crore.

The net profit rose nearly 4% on quarter to Rs 10,846 crore but was lower than the expected Rs 11,200 crore. The software major also announced a special dividend of Rs 67 per share and an interim dividend of Rs 8 per share.

In constant currency terms, revenue grew 13.5% year-on-year during the quarter, TCS said.

“We are pleased with our strong growth

in a seasonally weak quarter, driven by cloud services, market share gains through vendor consolidation, and continued momentum in North America

and UK,” said Rajesh Gopinathan, chief executive officer and managing director.

TCS bagged deals worth $7.5 billion in the quarter, which was slightly lower than what it was in the preceding two quarters. In the first two quarters of the current financial year, the company bagged deals worth $8 billion.

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