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Follow UsMUMBAI, INDIA: Tata Consultancy Services (TCS) Limited, the global IT services and outsourcing company reported a net profit of Rs.1823.90 crore with an increase of 33.9 per cent compared to the last year and a rise of 11.1 per cent against the previous quarter.
Announcing the third quarter results, TCS CEO and managing director N Chandrasekaran said, “I am delighted to say about the company’s spectacular performance in the third quarter. It’s been a holistic performance across all verticals and across all geographies.”
“In this quarter, our volume growth was 6.6 per cent sequentially with 2.9 per cent in Indian rupee term and 6.3 per cent in US dollar. Our operational profits increased to 103 bps which 8 per cent rise sequentially with net profit of Rs. 1824.90 crore, up by 11.1 percent quarterly,” Chandrasekaran added.
During the third quarter, TCS bagged 10 larges deals that are multi-million and multi-year contracts spanning across all sectors and geographies.
Among such deals, the company bagged a £150 million deal from a UK government entity. Here, TCS will be the strategic ICT partner for the foreign entity and help in driving its mission critical strategic transformational change program.
In the US, TCS gained a multi-million multi-year contract from a local pharmaceutical company for managed services in IT regulations and research areas. Also, the company gained a 7 year multi-million dollar ADM and managed services deal from a global travel services firm.
While, back home, TCS has been selected by two states for implementation of accelerated power development and reform programs. These deals amount to over Rs.450 crore.
According to Chandrasekaran, the deals are returning towards original levels and are moving in the positive and right direction, though they are happening at a slower pace.
From the technology demand per se, he observed that trend of enterprise solutions and cost-efficiency will continue in short future. Overall, during the third quarter the company added 32 new clients across sectors along with growth in the active clients and added seven clients in the $5 million plus size.