New Delhi, Jan 9 (UNI) Kick starting the earning season on a positive note, IT major and Tata Group flagship company Tata Consultancy Services (TCS) on Thursday reported 12 percent jump in net profit at Rs 12,380 crore year-on-year during the third quarter (October-December) of current financial year versus Rs 11,058 crore in the same period of last financial year.
Company’s total income from operations rose nearly 6 percent to Rs 63,973 crore in the Q3 compared to Rs 60,593 crore in the same quarter of last fiscal, the company said in a regulatory filing with the stock exchanges after its Board meeting today.
TCS declared a dividend per share of Rs 76.00 including Rs 66.00 as special dividend. The record date for the same to become eligible has been fixed as January 17, 2025 while the dividend will be paid on February 3, 2025, the company said.
Commenting on the financial performance, K Krithivasan, Chief Executive Officer and Managing Director, said “We are pleased with the excellent performance in Q3 which was well-rounded across industries, geographies and service lines lending good visibility to long-term growth. BFSI and CBG returning to growth, continued stellar run of Regional Markets and early signs of revival in discretionary spend in some verticals give us confidence for the future.
Our continuing investments in upskilling, AI/Gen AI Innovations and partnerships sets us up to capture the promising opportunities ahead.”
According to company statement, growth led by Consumer Business Group was over 1.1%, Energy, Resources and Utilities over 3.4% and Regional Markets grew by over 40.9%.
The leading growth markets are India (+70.2%), Middle East & Africa (+15.0%), Latin America (+7.0%) and Asia Pacific (+5.8%), it said.
Clients prioritized initiatives that accelerated technology modernization, factory of the future, business transformation, technology simplification and sustainability.
Cyber Security, AI.Cloud and TCS Interactive led the growth this quarter. Win themes across key deals involved manufacturing IT operations, managed services, Operating model transformation, vendor consolidation, CX transformation, legacy modernization, and Gen AI led transformation.
With increased regulatory scrutiny and legislative action, responsible AI adoption is top of mind for our clients. We have launched an innovative offering, TCS 5A Framework for Responsible AI with our partner AWS. This is the first of its kind in the industry. It helps identify and mitigate AI risks holistically.
