Mumbai: India’s largest software exporter Tata Consultancy Services (TCS) posted a 24.1 per cent growth in its net profit for the quarter ended December 2018 led by banking financial services and insurance and digital segment.
The company posted a net profit after tax (PAT) of Rs 8,105 crore as compared to Rs 6,531 crore in the same period last year.
The 12.1 per cent growth in the company’s revenue was the highest in the past 14 quarters.
Despite headwinds from the rupee volatility against various currencies, and the higher cost of doing business in some major markets, the company’s operating margin remained resilient.
“We are wrapping up 2018 with a strong revenue growth of 12.1 per cent in the December quarter, which is the highest in 14 quarters, with continued growth acceleration in key verticals and across all geographies. The strong client metrics, industry leading growth in digital services, a very strong order book and deal pipeline are all validations that customers recognize our differentiated capabilities and are picking us for their growth and transformation programs,” said Rajesh Gopinathan, CEO and MD, TCS.
Revenue growth accelerated in all the geographies compared to September quarter. While revenues from UK grew by over 25.1 per cent, Europe and Asia-Pacific witnessed a growth of over 17.6 per cent 12.6 per cent respectively.
Meanwhile, North America grew 8.2 per cent, India grew 9.7 per cent and Latin America grew 7.6 per cent.
The company said it experienced strong demand in areas like mergers & acquisitions, global shared services and enterprise agility.
“TCS’s location independent Agile methodology is resulting in large Agile wins with marquee clients,” it added.
TCS added a total of 6,827 employees during the quarter taking the total employee strength at the end of Q3 to 417,929 on a consolidated basis.
The company continued to invest heavily in organic talent development. These initiatives resulted in employees logging a cumulative 14.2 million learning hours.
Over 2.92 lakh employees have now been trained in digital technologies, and over 3.18 lakh employees in Agile methods, the company said....