Mumbai: TCS, the largest software exporter, on Thursday reported a street-beating 10.9 per cent rise in third quarter net profit at Rs 6,778 crore helped by growth in digital and traditional financial sectors, but flagged issues surrounding the H1-B visas in the US as a key headwind going forward.
The Tata Group’s crown jewel had reported a net profit of Rs 6,110 crore under the Ind-AS accounting system for the corresponding period last fiscal.
Revenue rose to Rs 29,735 crore, up 8.7 per cent over the year-ago period and 1.5 per cent from the preceding September quarter. The net profit growth is up 2.9 per cent on a sequential basis.
In the wake of a new Bill being introduced to regulate visas in the United States, which contributes over 65 per cent of its revenues, amid a fear of a rise in protectionist tendencies in the Donald Trump regime, MD and CEO N Chandrasekaran acknowledged visas as a potential headwind....