Last Updated:
TCS Q3 Results: Its revenue during October-December 2024 increased 5.6 per cent to Rs 63,973 crore.
TCS has declared its Q3 financial results.
TCS Q3 Results: Tata Consulatancy Services (TCS), India’s largest IT services company, on Thursday reported a 5.5 per cent rise year-on-year (YoY) in its net profit to Rs 12,380 crore. The company beats market estimates. Its revenue during October-December 2024 increased 5.6 per cent to Rs 63,973 crore.
On a constant currency basis, TCS’ revenue rose over 4.5 per cent YoY during the October-December 2024 period.
The company has also declared a dividend of Rs 76 per share, including a special dividend of Rs 66 per share. The record date for the dividend is January 17 and payment date is February 3, according to a regulatory filing by TCS.
The company’s total workforce at the end of December 2024 stood at 607,354.
Its IT services attrition rate (last twelve month basis) stood at 13 per cent.
K Krithivasan, chief executive officer and managing director of TCS, said, “We are pleased with the excellent TCV performance in Q3 which was well-rounded across industries, geographies and service lines lending good visibility to long-term growth. BFSI and CBG returning to growth, continued stellar run of regional markets and early signs of revival in discretionary spend in some verticals give us confidence for the future. Our continuing investments in upskilling, AI/Gen AI Innovations and partnerships sets us up to capture the promising opportunities ahead.”
Samir Seksaria, chief financial officer of TCS, said, “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.”
In the previous quarter of Q2 FY25, TCS’ revenue had stood at Rs 64,259 crore, while net profit was at Rs 11,909 crore. In the year-ago Q3 FY24, its revenue was at Rs 60,583 crore a year ago and net profit at Rs 11,058 crore a year ago.
