The company reported a net profit of Rs 8,118 crore for the third quarter, as against a profit of Rs 8,105 crore posted in the same period last year.
In terms of quarter-on-quarter growth, TCS reported 0.94 per cent rise in its net profit in the quarter ended December 2019, against Rs 8,042 crore profit posted in September quarter.
Commenting on the Q3 performance, Rajesh Gopinathan, chief executive officer (CEO) and managing director of TCS said: “We saw the sectoral trends of the first half of the year continue to play out in the third quarter. Our robust order book during the quarter reflects our ability to pitch innovative technology solutions to address the business needs of different stakeholders in the enterprise, and participate in our customers’ enterprise-wide transformation initiatives. This is also helping deepen and broaden our customer relationships, and make the business more resilient.”
The software firm posted 6.7 per cent rise in its revenue in the quarter under review to Rs 39,854 crore from Rs 37,338 crore in the corresponding period of the last fiscal.
N Ganapathy Subramaniam, chief operating officer (COO) and executive director of the company said: “In a seasonally weak quarter characterised by furloughs across multiple industry verticals, we focused on execution, while continuing to invest for future growth. Having onboarded over 30,000 trainees in the first half of the year, we worked on driving up utilization in Q3 and had good outcomes. Our client metrics were also very good, with additions across most revenue buckets.”
The board of directors of the company declared a third interim dividend of Rs 5 per equity Share of Re 1 each of the company.
Shares of TCS ended 20.35 points or 0.91 per cent lower at Rs 2,218.05 crore on the BSE. While, it closed 18.80 points or 0.84 per cent down at Rs 2,220 crore on the NSE.