NewDelhi: India’s TCS on Friday (January 17) announced its Quarter 3 results for 2019-2020 registering net income at Rs 8,118 crore, up by 0.2% year-over-year, it also declared its dividend at Rs 5 per share. TCS is India’s leading IT services, consulting and business solutions organisation.
In a statement issued by the company, Rajesh Gopinathan Chief Executive Officer and Managing Director commented on the Q3 performance saying, “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.”
N Ganapathy Subramaniam, Chief Operating Officer and Executive Director said that they “achieved key milestones which added further impetus to the own transformation plans.” He added, “We successfully migrated hundreds of thousands of policies from legacy systems onto our platform, significantly enhancing the customer experience for those policyholders.”
Financial Highlights for Quarter 3
* Revenue at Rs 39,854 crore, +6.7% YoY
* Constant currency revenue growth: +6.8% YoY
* Net Income at Rs 8,118 crore, +0.2% YoY
* Operating Margin at 25%; Net Margin at 20.4%
* Earnings Per Share at Rs 21.63, +0.2% YoY
* Net Cash from Operations at Rs 9,451 crore, i.e 116.4% of Net Income
* Dividend per share: Rs 5.00
Business highlights for Quarter 3
* Life Sciences & Healthcare continues to outperform, growing +17.1% YoY; Manufacturing grew +9.2% YoY and Communications and Media grew +9.5% * Europe grew +15.9% YoY
* Net addition of 22,390 employees YTD
* 93% of the 30,000 freshers onboarded in Hl deployed in projects
* Continued investments in organic talent development:
* 327K+ employees trained in digital technologies
* 404K+ employees trained in Agile methods
* Industry-leading talent retention: IT Services attrition rate at 12.2% LTM
Bureau Report
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