New Delhi: India's TCS announced results for the third quarter of 2019-2020 on Friday (January 17), posting a net profit of 8,118 rupees, an increase of 0.2% over the previous year. It also declared its dividend at 5 rupees per share. TCS is India's leading organization for IT services, consulting and business solutions.
In a statement by the company, Rajesh Gopinathan, Chief Executive Officer and Managing Director, commented on the third quarter's performance, saying, "We saw industry trends in the first half of the year continue to impact in the third quarter. The quarter reflects our ability to deliver innovative technology solutions in order to meet the business needs of various stakeholders in the company and to participate in company-wide transformation initiatives of our customers. "
N Ganapathy Subramaniam, chief operating officer and executive director, said they "have reached key milestones that have given further impetus to their own transformation plans." He added: "We have successfully migrated hundreds of thousands of policies from legacy systems to our platform, significantly improving the customer experience for these policyholders."
Financial highlights for the 3rd quarter
* Revenue at Rs 39,854 crore, + 6.7% year over year
* Constant sales growth in exchange rates: + 6.8% year-on-year
* Net profit at Rs 8.118 crore, + 0.2% year-on-year
* Operating profit at 25%; Net margin at 20.4%
* Earnings per share at 21.63 rupees, + 0.2% year-on-year
* Net cash from operations at 9.451 billion rupees, which is 116.4% of net income
* Dividend per share: Rs 5.00
Business highlights for the 3rd quarter
* Life Sciences & Healthcare continues to develop better and grows by + 17.1% year-on-year; The manufacturing sector grew by + 9.2% year-on-year and the communication and media sectors by + 9.5%. * Europe grew + 15.9% year-on-year
* 22,390 employees added net since the beginning of the year
* 93% of the 30,000 freshmen who were on board in Hl were used in projects
* Continued investment in organic talent development:
* Over 327,000 employees are trained in digital technologies
* 404K + employees who are trained in agile methods
* Industry-leading talent retention: IT Services wear rate at 12.2% LTM