Net profit

TCS net profit increases by 8.4% in second quarter to Rs 6,446 crore

However, the profit dropped 2.1% year-on year, with the company reporting a net profit of Rs 6,586 crore in July-September 2016.

Information Technology major Tata Consultancy Services on Thursday reported a net profit of Rs 6,446 crore in the second quarter of the 2017-’18 financial year, beating analysts’ expectations, The Economic Times reported.

The company said that its net profit for the July-September quarter was 8.4% higher than that in the April-June quarter. However, it dropped 2.1% year-on year, with the company reporting a net profit of Rs 6,586 crore in July-September 2016.

The company’s revenue for the July-September quarter rose to Rs 30,541 crore from Rs 29,584 crore in the previous quarter. Operating profit, which is the profit earned from business operations before deducting interest and taxes, rose 10% over the previous quarter to Rs 7,660 crore, Bloomberg reported. The profit margin came in at 25.1%, increasing from 23.4% in the April-June quarter.

The company added one client in the $100 million and above category, and and six new clients each in the $50 million, $20 million and $10 million categories during the second quarter of 2017.

Earlier today, TCS shares rose on both the Sensex and the Nifty on expectations of a good earnings data. At the Bombay Stock Exchange, the IT major’s stock finished 1.92% up at Rs 2,548.55 per share. At the National Stock Exchange, the stock rose 1.86% to close at Rs 2,546.90 per share.

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