TCS Q2 FY2023 Results: Earnings DECLARED! Check HIGHLIGHTS, Revenue, Dividend, Net Income and More
TCS Q2 FY2023 Results: The country's largest software services exporter TCS on Monday reported an annualised 8.4 per cent growth in net income at Rs 10,431 crore for the September quarter. The Tata Group company said its total revenue from services grew at a much faster pace of 18 per cent to touch Rs 54,309 crore in the period under review. The IT major had reported consolidated revenue of Rs 46,867 crore in the year-ago quarter from which it had earned Rs 9,624 crore net income. However, its operating margin narrowed by 1.60 percentage points to 24 per cent. Here are HIGHLIGHTS and KEY TAKEAWAYS of TCS Q2 FY2023 Results:-
TCS Q2 FY2023 Results: The country's largest software services exporter TCS on Monday reported an annualised 8.4 per cent growth in net income at Rs 10,431 crore for the September quarter. The Tata Group company said its total revenue from services grew at a much faster pace of 18 per cent to touch Rs 54,309 crore in the period under review. The IT major had reported consolidated revenue of Rs 46,867 crore in the year-ago quarter from which it had earned Rs 9,624 crore net income. However, its operating margin narrowed by 1.60 percentage points to 24 per cent. Here are HIGHLIGHTS and KEY TAKEAWAYS of TCS Q2 FY2023 Results:-
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The company added 9,840 employees on a net basis during the quarter to take its overall strength to 6.16 lakh, making it the largest segmental employer.
However, its operating margin narrowed by 1.60 percentage points to 24 per cent.
The city-headquartered IT major had reported consolidated revenue of Rs 46,867 crore in the year-ago quarter from which it had earned Rs 9,624 crore net income.
The Tata Group company said its total revenue from services grew at a much faster pace of 18 per cent to touch Rs 54,309 crore in the period under review.
The country's largest software services exporter TCS on Monday reported an annualised 8.4 per cent growth in net income at Rs 10,431 crore for the September quarter.
Commenting on TCS Q2FY23 Results, Milind Lakkad, Chief HR Officer, said: “Reflecting our culture of being committed to our employees, we have honored all the job offers we had made. Our investments in capacity building and organic talent development have allowed us to substantially grow our business ahead of headcount addition this quarter. We believe our quarterly annualized attrition has peaked in Q2 and should see it taper down from this point, while compensation expectations of experienced professionals moderate.”
Commenting on TCS Q2FY23 Results, Samir Seksaria, Chief Financial Officer, said: “We are steadily making our way towards achieving our operating margin priority for the year, aided by leverage from good growth, the flattening of the workforce pyramid, steadily improving productivity and currency support. Very importantly, the headwinds from the supply-side challenges are abating, so that sets us up well for the seasonally weak second half of the year.”
Commenting on TCS Q2FY23 Results, N Ganapathy Subramaniam, Chief Operating Officer and Executive Director, said: “This was another quarter of excellent execution that saw us delivering several transformational projects like the largest migration of 2.3 million policies to our TCS Insurance platform in one go in the UK, or the trading platform at the Gift City. Our delivery leadership congregated during the quarter and are raising the bar further on execution excellence with frameworks like Rigor in Transformation. We are pleased that our office facilities are becoming once again the place of buzz with more and more of our employees and clients celebrating togetherness to realize their full potential.”
Commenting on TCS Q2FY2023 Results, Rajesh Gopinathan, Chief Executive Officer and Managing Director, said: “Demand for our services continues to be very strong. We registered strong, profitable growth across all our industry verticals and in all our major markets. Our order book is holding up well, with a healthy mix of growth and transformation initiatives, cloud migration and outsourcing engagements. As clients prepare for a more challenging environment ahead, technologies like cloud that have been embraced now have to be fully leveraged to realize the promised value. TCS has the combination of contextual knowledge, technology expertise and execution rigor to deliver on this imperative.”
TCS says revenue jumps 18 pc to Rs 54,309 crore in Q2 on annual basis.
TCS says net income rises 8.4 pc to Rs 10,431 cr in September quarter on-year.
Tata Consultancy Services (BSE: 532540, NSE: TCS) reported its consolidated financial results according to Ind AS and IFRS, for the quarter ending September 30, 2022.
Highlights of the Quarter Ended September 30, 2022
• Revenue at `55,309 crore, +18% YoY
• Constant Currency revenue growth: +15.4% YoY
• Order Book at $8.1 billion | Book to Bill at 1.2
• Operating Margin at 24%; contraction of 1.6% YoY
• Net Income at `10,431 crore, +8.4% YoY | Net Margin at 18.9%
• Net Cash from Operations at `10,675 crore i.e. 102.3% of Net Income
• Net headcount addition of 9,840 |Workforce strength: 616,171
• Diverse and inclusive workplace: Women in the workforce: 35.7% | 157 Nationalities
• Building a G&T workforce: 11.7 million learning hours clocked | 1.5 million competencies acquired
• LTM IT Services attrition rate at 21.5%
• Dividend per share: ` 8.00 | Record date 18/10/2022 | Payment date 07/11/2022
Financial results for the quarter and six month period ended September 30, 2022 and declaration of second interim dividend
"We would like to inform you that at the Board Meeting held today, the Directors have declared a second interim dividend of ₹8 per Equity Share of ₹1 each of the Company," TCS said.
TCS Share Price
TCS stock price settles with strong gains ahead of Q2 results.
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