TCS reports marginal slide in net profit at Rs 5,328 cr in Q3
Mumbai: Country’s largest software exporter TCS today reported a marginal 0.1 per cent slide in its profit at Rs 5,328 crore for the third quarter of this fiscal, but revenues increased by 15 per cent to Rs 24,501 crore.
The company had reported a net profit of Rs 5,333 crore in the same period last fiscal. Revenues were Rs 21,294 crore in the corresponding period.
“We have maintained our momentum in a traditionally weak quarter for the industry. Our diversified industry portfolio and presence across key markets have helped us overcome soft seasonal demand in some sectors.
“We are well on our way to post industry leading growth for the fiscal,” TCS Managing Director and Chief Executive N Chandrasekaran said announcing the numbers here this evening.
The company said its gross employee addition rose to 16,561 during the quarter taking its overall headcount to 3,18,625, while attrition rate stood at 13.4 per cent.
The company added one USD 100-million client and three above USD 50 million clients apart from 20 USD 5 million clients during the quarter.
Employee utilisation stood at 86.7 per cent, excluding trainees and at 82.1 per cent including trainees.
TCS shares rose 1.07 per cent to Rs 2,545 apiece on the BSE in anticipation of earnings announcement made after the market hours, while the benchmark Sensex rallied 2.8 per cent after the RBI surprisingly cut the interest rate by a quarter percent.