Updated Jan 11, 2021 | 09:11 IST
Rajesh Gopinathan says there is absolutely no doubt that TCS is going for double digit-growth (even beyond FY22), stakeholders will have to take their bets, you can bet on us or bet against us. TCS CEO and MD Rajesh Gopinathan. (File photo)
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Bengaluru: The Indian IT major Tata Consultancy Services (TCS) reported the strongest Q3 growth in 9 years despite Q3 being a seasonally weak quarter. October-December quarter (Q3 FY21) was a beat on almost all counts with strong deal momentum, operating margins at 5-year high and cash conversion rate at an all-time high. ET NOW caught up with Rajesh Gopinathan, CEO and MD, TCS to understand what led to strong Q3 and more importantly the
The order book for TCS is at an all-time high, almost turning $7 billion. How does one understand the order book momentum in terms of growth? Will it be double digit or is what we have seen in the last couple of quarters more like a sugar rush due to Covid?
In the last few quarters, we have been delivering a total contract of about $6 billion consistently. I will attribute this to proactive investments, innovative and market leading offerings. It is also an endorsement or an indication of the relative competitiveness that we have in the marketplace.
Overall, we are pleased that in this particular quarter, almost every unit of ours, including all the geographies and products and platforms, have shown growth. Not only have they grown, there has also been broad-based deal wins. Out of $6.8 billion, BFSI has contributed about $2.6 billion. North America has done $4 billion. Overall, we are very pleased with the momentum that we have both on the sales side as well as on the deal wins a
Strong Demand Drives TCS Q3 Growth Momentum
- Strongest Third Qtr Growth in 9 yrs: +4.1% QoQ CC, +4.7% INR, +5.1% USD
- Back to Positive YoY Growth: +0.4% CC, +5.4% INR, +2.1% USD
- Operating Margin: 26.6%, +0.4% QoQ and +1.6% YoY
- Net Profit Growth +3.7% YoY
- Lowest Ever Employee Attrition in IT Services (LTM): 7.6%
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NEW YORK and MUMBAI, India, Jan. 8, 2021 /PRNewswire/ Tata Consultancy Services (BSE: 532540, NSE: TCS), the leading global IT services, consulting and business solutions organization, reported its consolidated financial results according to Ind AS and IFRS, for the quarter ending December 31, 2020.
Highlights of the Quarter Ended December 31, 2020
The IT major reported 16.4% rise in consolidated net profit to Rs 8,701 crore on a 4.7% increase in revenue to Rs 42,015 crore in Q3 December 2020 (Q3 FY21) over Q2 September 2020 (Q2 FY21).
The September quarter net profit had a post-tax one-time impact of Rs 958 crore due to provision for ongoing litigation with EPIC.
The company s consolidated net profit has grown by 7.2% and revenue has risen by 5.4% in Q3 FY21 over Q3 FY20.
Profit before tax (PBT) in Q3 FY21 stood at Rs 11,692 crore, up by 16.5% from Rs 10,037 crore in Q2 FY21. Sequentially, total tax expense during the third quarter has increased by 17.1% to Rs 2,965 crore.