TCS posts 3.94 per cent dip in consolidated net in Q3

TCS shares at 52-week high Is digital finally delivering

PC Reuters

Consolidated net profit for the quarter ended in December fell 3.6% to 65.31 billion rupees ($1.03 billion) from 67.78 billion rupees a year earlier.

The quarter saw TCS win a $50 million contract categorised under digital services, which is the largest order the company has won in the area.

"We wrapped 2017 with a strong performance in the December quarter, marked by the signing of industry-defining deals, robust client metrics and broad-based demand across industry verticals". Growth was led by Energy & Utilities (+8.5% Q-o-Q), Travel & Hospitality (+2.9% Q-o-Q) and Life Sciences & Healthcare (+2.5% Q-o-Q).

"Progressive organisations looking to take advantage of new opportunities in the Business 4.0 era are ramping up their Digital investments, and TCS has emerged as their preferred transformational partner". The digital business accounted for 22.1% of TCS's total revenue in the quarter-a 13.9% increase sequentially (quarter-on-quarter) and 39.6% year-on-year (y-o-y) in constant currency terms.

According to M&S CEO Steve Rowe, the company's transformation of its technology team will save the company up to £30m annually by 2022 - making a significant contribution to Rowe's five-year turnaround plans.

USA airline Delta tops expectations
Investors are definitely paying attention to what analysts over at Wall Street are now thinking about the shares of Facebook, Inc. After $0.15 actual EPS reported by BJ's Restaurants, Inc. for the previous quarter, Wall Street now forecasts 120.00% EPS growth.

Followers Aren't Happy With Bella Thorne's Tweet on California Mudslides
Santa Barbara Sheriff Bill Brown attempted to reassure residents who have been forced from their homes due to recent events. After numerous notifications of people saying harsh comments to Bella , she deleted the original tweet and apologized.

Director Gore Verbinski exits Fox's Gambit movie
That shuffling at the top has prompted repeated delays in the film's production, which has been in active development since 2014. But without a director, it seems like fans will waiting a while longer to see the card-throwing Cajun on the big screen again.

According to brokerages, top Indian IT players will see muted sequential revenue growth in the range of 1 to 2.6 per cent compared to the previous quarter, with players like HCL and Tech Mahindra expected to perform on the upper end of the spectrum, while TCS, Wipro and Infosys are expected to record slightly slower growth.

TCS said,"Employee reskilling initiatives, focused on building digital competencies at scale using anywhere anytime access, are helping employees stay relevant at a time of technology change".

NB: What has been the employee addition for the quarter and attrition rate?

TCS in it's financial audit, mentioned that localisation initiatives continue to progress well, with 2,929 employees recruited outside India in Q3, bringing the total to 9,908 in FY18, year to date. When contacted, Nasscom president R Chandrashekhar said, "We have ourselves been saying this single number no longer represents the totality of what's happening in the industry". "We are well placed for stronger growth ahead", Chief Executive Rajesh Gopinathan said in a statement.

The shares also quoted a high of Rs 2,820.10 and a low of Rs 2,781.90 during the intra-trading sessions on the BSE.

Latest News