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TCS Q3 profit rises 2.6% to Rs 8,105 cr, constant currency revenue growth 1.8% meets expectations

TCS’ revenue during the quarter grew by 1.3 percent quarter-on-quarter to Rs 37,338 crore in October-December quarter.

Software firm Tata Consultancy Services has reported a 2.6 percent sequential growth in December quarter profit at Rs 8,105 crore with constant currency revenue growth of 1.8 percent QoQ meeting analyst expectations on Thursday.

The bottomline growth was driven by other income (up 59 percent QoQ), but limited by weak operational performance. The company had reported a profit at Rs 7,901 crore in quarter ended September 2018.

Revenue during the quarter grew by 1.3 percent quarter-on-quarter to Rs 37,338 crore in October-December quarter.

The year-on-year growth in profit was 24.1 percent, and revenue in constant currency terms increased by 12.1 percent YoY, the highest in 14 quarters.

“We are wrapping up 2018 with a strong revenue growth of 12.1 percent in the December quarter, which is the highest in 14 quarters, with continued growth acceleration in key verticals and across all geographies,” Rajesh Gopinathan, Chief Executive Officer and Managing Director said.

Revenue in dollar terms was higher by 0.67 percent quarter-on-quarter at $5,250 million in Q3FY19 and constant currency growth stood at 1.8 percent against 3.7 percent in previous quarter.

“The strong client metrics, industry leading growth in digital services, a very strong order book and deal pipeline are all validations that customers recognize our differentiated capabilities and are picking us for their growth and transformation programs,” Gopinathan said.

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DylanThomas

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