INSUBCONTINENT EXCLUSIVE:
TCS Results: Net profit came in at Rs 7,901 crore, compared with Rs 6,446 crore a year earlier.The country's top software services exporter
Tata Consultancy Services Ltd posted a record profit for the quarter ended September 30, boosted by strong revenue growth across its
business and setting the tone for India's IT sector results
TCS, India's only technology company with a market capitalisation of more than $100 billion and the flagship company of salt-to-software
conglomerate Tata group, is the first software services exporter to report for the quarter.Net profit came in at Rs 7,901 crore in the
quarter, compared with Rs 6,446 crore a year earlier, largely in line with analysts average estimate of a consolidated net profit of Rs
7,902 crore, according to Refinitiv Eikon data.Strong revenue growth was seen in its Banking, Financial services and Insurance (BFSI) and
retail segments.Revenue from the company's biggest revenue stream BFSI, rose 19.8 per cent to Rs 14,648 crore, the Mumbai-headquartered
company said in a statement on Thursday."Revenue growth was driven by expanding demand for digital transformation across verticals, and
continued acceleration in BFSI and retail," chief executive Rajesh Gopinathan said.Revenue from its retail and consumer business grew about
24 per cent, while income from operations rose 20.7 per cent to Rs 36,854 crore
Shares of TCS ended 3.1 per cent lower ahead of the results in a broader Mumbai market that closed down 2.2 per cent after a sharp-sell off
