New Delhi: Tata Consultancy Services (TCS), a leading player in the IT services sector, has announced a 12 percent increase in net profit for the recently concluded October-December quarter, as revealed in its earnings report released on Thursday.
The net profit for the December quarter reached Rs 12,444 crore, compared to Rs 11,097 crore during the same period last year. With TCS's Q3 earnings announcement, the corporate earnings season for the October-December quarter has officially commenced, providing valuable insights for market participants regarding the performance of Indian companies.
When considering the combined results for the April-June, July-September, and October-December quarters, TCS's net profits increased by 8.6 percent, totaling Rs 36,504 crore.
In terms of operational revenue, the IT services giant reported a 5.6 percent rise to Rs 63,973 crore for the December quarter, up from Rs 60,583 crore in the previous year.
For the three quarters combined, revenue grew by 6.2 percent, amounting to Rs 190,845 crore.
Samir Seksaria, Chief Financial Officer of TCS, noted that despite significant cross-currency volatility during the quarter, the company's effective execution, cost management, and adept handling of currency risks contributed to a healthy improvement in margins and free cash flow.
"Strategic investments in talent and infrastructure are expected to support long-term business growth," Seksaria remarked.
As of December 2024, TCS's workforce stood at 607,354, with an attrition rate of 13 percent over the past year. The company has achieved a workforce composition of 35.3 percent women.
Milind Lakkad, Chief HR Officer at TCS, stated, "This quarter, we promoted over 25,000 associates, bringing the total number of promotions for this financial year to over 110,000."
Lakkad emphasized TCS's ongoing commitment to employee upskilling and overall well-being.
"Our campus hiring strategy is progressing as planned, and we are preparing to onboard a larger number of campus recruits next year," the Chief HR Officer concluded.
As of December 31, 2024, the company had submitted applications for a total of 8,549 patents, with 195 of those applications filed during the most recent quarter. Additionally, the company had been awarded 4,585 patents, which includes 216 patents granted in the current quarter.
