Tata Consultancy Services (TCS) Ltd is the first Indian tech major to report results this earnings season. The company on Thursday posted a 5 per cent rise in net profit, at Rs 11,909 crore, for the September 2024 quarter (Q2 FY25) compared with Rs 11,342 crore in the year-ago period.
During the quarter under review, revenue from operations came at Rs 64,259 crore, up 7.65 per cent from Rs 59,692 crore in the September 2023 quarter.
Here are the key takeaways from the IT giant's quarterly earnings:
* Operating margin at 24.1 per cent; a decline of 0.2 per cent year-on-year (YoY)
* Net margin at 18.5 per cent
* Net cash from operations at Rs 11,932 crore, i.e 100.2 per cent of net income
* Workforce strength: 6,12,724; net headcount addition of 5,726
* Diverse and inclusive workplace: Women in the workforce: 35.5 per cent; 150 nationalities
* LTM IT Services attrition rate at 12.3 per cent
* Dividend per share: Rs 10 | Record date: October 18, 2024 | Payment date: November 5, 2024
K Krithivasan, CEO and managing director at TCS, said, "We saw the cautious trends of the last few quarters continue to play out in this quarter as well. Amidst an uncertain geopolitical situation, our biggest vertical, BFSI showed signs of recovery. We also saw a strong performance in our Growth Markets. We stay focused on sharpening our value proposition to our clients, employees and other stakeholders."
The Q2 FY25 results were announced post market hours today. Earlier in the day, TCS cancelled its Q2 FY25 earnings press conference and interviews following Ratan Tata's demise. He passed away at the age of 86 after a brief illness. TCS shares settled 0.56 per cent lower at Rs 4,228.40.