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IT services major Tata Consultancy Services (TCS) has reported a 12 per cent jump in net profit in the just-concluded October-December quarter, its earnings released Thursday showed.
The net profit rose to Rs 12,444 crore in the December quarter, as against Rs 11,097 crore in the year-ago period. With TCS releasing Q3 earnings, the corporate earnings season for the October-December quarter kicked off. Earning insights of India Inc. will give cues to market participants. April-June, July-September, and October-December quarters combined, the net profits of TCS rose 8.6 per cent to Rs 36,504 crore. Coming to revenue from operations, the IT services major reported a 5.6 per cent rise to Rs 63,973 crore in the December quarter, as against Rs 60,583 crore in the year-ago period. Three quarters combined, they rose 6.2 per cent to Rs 190,845 crore. Samir Seksaria, Chief Financial Officer, TCS, said that in a quarter that saw significant cross-currency volatility, TCS's strong execution, cost management and deft currency risk management helped deliver healthy margin improvement and free cash flows. "Disciplined investments in talent and infrastructure should lend good support to long-term business growth," Seksaria added. At the end of December 2024, TCS' workforce strength was 607,354, with the last 12 months' attrition rate at 13 per cent. TCS has 35.3 per cent women in the workforce. Milind Lakkad, Chief HR Officer, TCS said, "We promoted over 25,000 associates this quarter which brought the total promotions this financial year to more than 110,000." Lakkad said TCS continues to invest in employee upskilling and overall well-being. "Our campus hiring for the year is going according to plan and preparations are afoot to onboard a higher number of campus hires next year," the Chief HR Officer added. As of December 31, 2024, the company had applied for 8,549 patents, including 195 applied during the quarter and been granted 4,585 patents including 216 during the quarter. (ANI)
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