HomeBusinessTCS Net Profit Jumps 29% To Rs 9,624 Crore In Second Quarter

TCS Net Profit Jumps 29% To Rs 9,624 Crore In Second Quarter

TCS Net Profit Jumps 29% To Rs 9,624 Crore In Second Quarter

TCS shares settled 1.10% greater at Rs 3,935.30 on the BSE index.

New Delhi:Software exporter Tata Consultancy Services Ltd (TCS) on Friday reported a 28.75% rise in its second quarter (Q2) revenue — ended on September 30 — of the present monetary yr 2021-22 (FY22), boosted by a pandemic-led demand for digitisation from companies.

In a notification to the exchanges, TCS stated that its consolidated internet revenue rose to Rs 9,624 crore towards Rs 7,475 crore posted in the identical interval final yr. TCS had reported a revenue of Rs 9,008 crore in earlier quarter (Q1) ended on June 30.

Consolidated income from operations jumped 16.8% to Rs 46,867 crore, in contrast with Rs 40,135 crore a yr earlier.

Also, the Board of Directors has declared an interim dividend of Rs 7 per fairness share.

TCS stated it has integrated two totally owned subsidiaries in Q2; Tata Consultancy Services Bulgaria EOOD in Bulgaria on August 31 and Tata Consultancy Services Guatemala, S.A. in Guatemala on September 1.

The firm acknowledged that it has added 19,690 workers through the second quarter taking the whole workforce energy to five,28,748.

The Board reappointed Rajesh Gopinathan as Chief Executive Officer and Managing Director for a time period of 5 years from February 21, 2022 to February 20, 2027.

N Ganapathy Subramaniam has been reappointed as Chief Operating Officer and Executive Director from February 21, 2022 to May 19, 2024. Mr Subramaniam is the brother of Tata Sons chairman N Chandrasekaran.

“Mr Gopinathan and Mr Subramaniam are not debarred from holding the office of Director by virtue of any order of the Securities and Exchange Board of India (SEBI) or any other such authority,” TCS talked about.

Mr Gopinathan stated: “The strong and sustained demand environment is a once-in-a-decade opportunity to position ourselves as the preferred growth and transformation partner for our customers. We are using the growth tailwind to invest in strengthening relevant capabilities and building out a comprehensive portfolio of offerings that caters to a broader set of stakeholders in the enterprise across business cycles, strengthening our brand, and making our business more resilient.”

Further, the Board has appointed Pradeep M. Gaitonde as Company Secretary and Compliance Officer with impact from November 1, 2021, to take over from Rajendra Moholkar.

The shares of the corporate settled 1.10% greater at Rs 3,935.30 on the BSE index. The Q2 numbers have been introduced after market hours immediately.

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