TCS Q3 profit jumps 24%, revenue highest in 14 quarters

TCS, India’s largest IT firm by revenue, on Thursday reported a 24.1 per cent rise in YoY profit at Rs 8,105 crore for the December quarterAnalysts in an ETNOW poll has estimated the profit at Rs 8,150 crore.The IT major had reported Rs 6,531 crore profit in the same quarter last year.Revenue for the quarter rose 20.80 per cent YoY to Rs 37,338 crore, the company said in a BSE filing."We are wrapping up 2018 with a strong revenue growth of 12.1 per cent in the December quarter, which is the highest in 14 quarters, with continued growth acceleration in key verticals and across all geographies,” said Chief Executive Officer and Managing Director, Rajesh Gopinathan.Q3 Highlights 67472772 The directors of the company declared a third Interim dividend for the financial year of Rs 4 per share. The dividend will be paid on January 24, and January 18 has been fixed as the record date.Despite headwinds from the rupee volatility against various currencies, and higher cost of doing business in some major markets, the IT firm’s operating margins have been resilient.“We remain focused on driving rigor in our operations, generating strong cash flows and steering profitability back to our preferred range, while continuing to invest strongly for future growth,” said Chief Financial Officer V Ramakrishnan.

from Economic Times http://bit.ly/2FllvYy