TCS Q3 Results HIGHLIGHTS: Tata group IT giant kicks off earnings season; PAT down 2.5% sequentially, revenue meets Street estimates
TCS Q3 Results HIGHLIGHTS, TCS Q3 Earnings profit, Dividend: Tata Consultancy Services (TCS)—the country's largest IT services exporter—kicked off a new earnings season for India Inc with a decent set of results for the October-December period. While the Tata group IT giant’s quarterly revenue of $7,281 million and margin of 25 per cent were better than analysts’ estimates, its net profit of Rs 11,058 crore failed to keep up with their expectations in the seasonally weak period.
According to Zee Business research, Tata Consultancy Services’ quarterly net profit for the fiscal third quarter was estimated at Rs 11,600 crore, revenue at $7,200 million and margin at 24.5 per cent.
Tata Consultancy Services said it was hard to predict a recovery in demand for IT services in the next two quarters as persistent inflation and recession fears pressure client spending in its key markets, the US and Europe.
The company announced a total dividend of Rs 27 (an interim dividend of Rs 9 per share and a special dividend of Rs 18 per share).
Attrition at the IT major eased by 160 basis points on a quarter-on-quarter basis to 13.3 per cent.
TCS CEO K Krithivasan said he does not predict a recovery in demand for its IT services in the next two quarters. TCS Q3 FY24 results: Key takeaways
Catch all the highlights of the TCS Q3 FY24 earnings report, how Dalal Street reacts to it, and the views of Zee Business Managing Editor Anil Singhvi and other experts—and much more—only on the Zeebiz.com blog:
TCS Q3 Results HIGHLIGHTS, TCS Q3 Earnings profit, Dividend: Tata Consultancy Services (TCS)—the country's largest IT services exporter—kicked off a new earnings season for India Inc with a decent set of results for the October-December period. While the Tata group IT giant’s quarterly revenue of $7,281 million and margin of 25 per cent were better than analysts’ estimates, its net profit of Rs 11,058 crore failed to keep up with their expectations in the seasonally weak period.
According to Zee Business research, Tata Consultancy Services’ quarterly net profit for the fiscal third quarter was estimated at Rs 11,600 crore, revenue at $7,200 million and margin at 24.5 per cent.
Tata Consultancy Services said it was hard to predict a recovery in demand for IT services in the next two quarters as persistent inflation and recession fears pressure client spending in its key markets, the US and Europe.
The company announced a total dividend of Rs 27 (an interim dividend of Rs 9 per share and a special dividend of Rs 18 per share).
Attrition at the IT major eased by 160 basis points on a quarter-on-quarter basis to 13.3 per cent.
TCS CEO K Krithivasan said he does not predict a recovery in demand for its IT services in the next two quarters. TCS Q3 FY24 results: Key takeaways
Catch all the highlights of the TCS Q3 FY24 earnings report, how Dalal Street reacts to it, and the views of Zee Business Managing Editor Anil Singhvi and other experts—and much more—only on the Zeebiz.com blog:
Latest Updates
TCS Q3 Results Update: Mumbai-headquartered Tata group IT giant's shares hold on to much of intraday gains after a solid start to the day
Tata Consultancy Services (TCS) shares gain by as much as Rs 157.5, or 4.2 per cent, to Rs 3,893.7 apiece on BSE as investors give a thumbs up to the IT major's quarterly performance.
Image: BSEIndia.com
TCS Q3 Results | 'Strong execution, impressive margin improvement': How Anil Singhvi summarises TCS earnings
Zee Business Managing Editor Anil Singhvi points out the following key points about the IT major's quarterly results:
- Strong execution
- Impressive margin improvement
- Growth back on track
- Outlook positive
TCS Q3 Results | Market wizard Anil Singhvi recommends buying TCS futures; check out target price, stop loss here
Zee Business Managing Editor Anil Singhvi recommends buying TCS futures with a stop loss at Rs for targets of Rs 3,780 and Rs 3,820.
TCS Q3 Results Live: CFO Samir Seksaria says company making right investments in people, innovation, infra
“Our disciplined execution and operational rigor drove strong improvement in our industry leading margins despite seasonal headwinds," says Samir Seksaria, Chief Financial Officer, TCS.
He also says the company is making right investments in its "people, innovation and infrastructure to differentiate ourselves and create long-term value for all our stakeholders”.
TCS Q3 Results Live: Contraction in BFSI segment at 3.0%
Here's a breakup of some of its other business segments:
- Consumer Business Group (CBG): down 0.3 per cent
- Communications and Media: down 4.9 per cent
- Technology and Services: down 5.0 per cent
TCS Q3 Results Live Update: Tata group IT major registers double-digit growth in emerging markets led by India
Growth in the geography stands at 23.4 per cent, according to the Tata group firm.
Among segments, growth is led by energy, resources and utilities (11.8 per cent), manufacturing (7.0 per cent), and Life Sciences and Healthcare (3.1 per cent), according to TCS.
TCS also says that AI.Cloud led the demand among service lines with strong momentum sustaining for Cloud migrations and increasing interest among customers for AI and Generative AI.
TCS Q3 Results Live Update: CEO K Krithivasan says company's performance strong in seasonally weak quarter buffeted by macro headwinds
The company's strong performance in a seasonally weak quarter demonstrates the strength of its business model with a well-diversified portfolio and a customer centric strategy, says K Krithivasan, CEO and Managing Director, TCS.
"We are seeing strong deal momentum across markets resulting in a solid order book providing visibility into our long-term growth. We are seeing tremendous interest in Generative AI and are leading the innovation and exploratory efforts for our customers in this area,” he adds.
File photo | Image credit: Reuters
TCS Q3 Results Live Update: Attrition cools by 160 bps
Attrition at the country's largest IT services exporter comes in at 13.3 per cent for the fiscal third quarter as against 14.9 per cent for the July-September period.
TCS Q3 Results Live Update: Revenue growth in constant currency at 1.7%
The Tata group IT firm registers revenue growth of 1.7 per cent in constant currency terms for the three-month period compared with the September quarter.
TCS Q3 Results Live Update: Margin improves by 70 bps sequentially
The Tata group IT major's margin for the December quarter stands at 25 per cent, as against 24.3 per cent for the previous three months.
TCS Q3 Results Live Update: EBIT grows to Rs 15,155 crore from Rs 14,483 crore in Q2
Mumbai-based Tata Consultancy Services, the country's largest IT firm, reports Rs 15,155 crore in earnings before interest and taxes (EBIT), an increase of 4.6 per cent sequentially.
TCS Q3 Results Live Update: Revenue up 1.5% sequentially at Rs 60,583 crore, meets Street estimates
The Tata group IT major reports revenue of Rs 60,583 crore for the three-month period under review, a rise of 1.5 per cent on a quarter-on-quarter basis.
TCS Q3 Results LIVE | Tata group IT major declares Rs 9/share interim dividend, Rs 18/share special dividend
The company's board sets January 19 as the record date for the dividends.
The third interim dividend and the special dividend will be paid to eligible shareholders on February 5. Read more on TCS dividend
TCS Q3 Results LIVE Update: Consolidated net profit at Rs 11,058 crore vs Rs 11,342 crore in Q2
TCS Q3 Results Live: BREAKING | PAT down 2.5% vs Q2; revenue meets Street estimates