The global supply chain is being redesigned by the pandemic, not only in terms of just-in-time but also just-in-case, and these are all presenting significant opportunities to Tata Consultancy Services, Chairman N Chandrasekaran says at the TCS AGM.
Updated Jan 08, 2021 | 19:21 IST TCS Q3 FY21 net rose to Rs 8,701 crore or 7.18% higher as compared to Rs 8,118 crore in the year-ago period TCS CEO Rajesh Gopinathan I File photo | Photo Credit: AFP
Mumbai: India’s largest IT services exporter Tata Consultancy Services (TCS) reported a 7.18% year-on-year (YoY) jump in net profits during the third quarter (Q3) for the financial year 2020-21 (FY21).
TCS Q3 FY21 net rose to Rs 8,701 crore as compared to Rs 8,118 crore in the year-ago period. This is more than ET Now poll of analysts which pegged the same at Rs 8,600 crore.
The company s revenue during the quarter ended December 31, 2020, rose by 5.42% YoY to Rs 42,015 crore against Rs 39,854 crore in the corresponding period in FY20. The company s revenue growth in Q3 FY21was strongest in the last 9 years.
URL copied
TCS buyback: Tata Sons sells shares worth Rs 10,000 crore
Tata Sons Pvt Ltd, the holding company of salt-to-software Tata Group, has raised about Rs 10,000 crore from selling close to 1 per cent holding in Tata Consultancy Services (TCS) in the IT firm s recently concluded share buyback.
Tata Sons tendered 3.33 crore shares in the group s most profitable firm s share buyback plan, according to a company s filing to the stock exchanges.
Post completion of the buyback, where the company will buy shares and extinguish them, Tata Sons will hold 72.16 per cent of TCS.
At the buyback price of Rs 3,000 apiece, Tata Sons share sale amount comes to Rs 9,997 crore.