Mumbai: Despite a $125 million legal settlement, Tata Consultancy Services (TCS), India’s IT giant, posted a 1.95% rise in Q3 net profit to ₹ 11,058 crore, showcasing resilience in a turbulent market.
Key Takeaways
- Profit Increase: While modest, the profit growth reflects TCS’s diversified portfolio and customer-centric approach, navigating headwinds.
- Revenue Rise: Revenues climbed 4% to ₹ 60,583 crore, indicating continued organic growth.
- Legal Setback: The $125 million provision for a US legal claim impacted financials but didn’t overshadow overall performance.
- Dividend Delight: Shareholders rejoice with a ₹ 27 per share dividend declared.
- Market Growth: UK leads with 8.1% growth, while North America declines 3% due to macro factors. Emerging markets shine with India at 23.4% growth.
- CEO Optimistic: K Krithivasan, MD & CEO, highlights strong deal momentum and increasing interest in Generative AI, propelling long-term growth.
- Focus on India: Subramaniam, COO, emphasises progress in national projects and strong performance of TCS products and platforms.
- Talent Update: Attrition dips to 13.3%, with focus on campus hiring and organic talent growth.
Despite the legal overhang, TCS’s Q3 results showcase a robust business model and promising growth signals. The company’s continued focus on diversifying markets, investing in new technologies, and nurturing talent positions it for future success.
Content Writer at Vakilsearch
Hello! I am Monika Shanmugam. With 4 years of crafting engaging and informative content, I'm passionate about demystifying complex topics and weaving impactful narratives. My legal-writing journey began at Vakilsearch, where I spent the past year immersing myself in the intricacies of the legal landscape. This experience shaped my ability to translate legalese into digestible language, empowering individuals with the knowledge they need to navigate the legal system confidently.
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