The company’s net profit stood at ₹12,075 crore at the end of the September quarter, which was lower than the ₹12,760 crore it reported during the June quarter. The figure was also lower with the CNBC-TV18 poll estimate of ₹12,528.3 crore.
Profitability for the quarter was dragged due to a one-time restructuring expense of ₹1,135 crore.Revenue in rupee terms rose by 3.7% quarter-on-quarter to ₹65,799 crore. The CNBC-TV18 poll had projected a figure of ₹65,114 crore.
TCS reported Earnings before Interest and Tax (EBIT) stood at ₹16,565 crore, a growth of 6.8% on a sequential basis. The CNBC-TV18 poll had projected the EBIT to grow by 3.8% sequentially to ₹16,103 crore.EBIT margins for the quarter expanded by 70 basis points to 25.2% from 24.5% in June and higher compared to 24.7% estimate of the CNBC-TV18 poll.
Deal wins during the quarter stood at $10 billion, in-line with what brokerages like Kotak had projected, and higher than the $9.4 billion that the company had won in the June quarter.
TCS has also announced a second interim dividend of ₹11 per share, and the record date for this payout has been fixed as October 15.
How did the various business segments fare:
- BFSI segment grows 1.1% sequentially
- Life Sciences and Healthcare vertical grows 3.4% quarter-on-quarter
- Manufacturing vertical grows 1.6% from the June quarter
- CMI business grows 0.8% amidst industry specific challenges
- All growth figures in constant currency terms
Shares of TCS ended near the highest point of the day on Thursday before the results were announced. The stock ended 1.1% higher at ₹3,060, has gained in three out of the last four trading sessions, and continues to rebound from its 52-week low that it fell to on October 1.
To be updated with more details.
