TCS Q2 results: IT giant posts profit of Rs. 11,342cr
Tata Consultancy Services (TCS), India's leading IT services company, has announced a net profit of Rs. 11,342 crore for the September quarter of this fiscal year. That's an 8.7% increase from the Rs. 10,431 crore reported during the same time last year. The boost in net profit is due to a robust order book, especially in the Banking, Financial Services, and Insurance (BFSI) sector, even amid tough business conditions.
Revenue and order wins indicate growth
For the September quarter, TCS posted consolidated operational revenue of Rs. 59,692 crore, which is nearly an 8% year-on-year jump from Rs. 55,309 crore in Q2FY23. The company's order wins for Q2 reached Rs. 93,180 crore, showing growth quarter-on-quarter (QoQ). Sequentially, the consolidated revenue inched up by 0.5% from Rs. 59,381 crore in Q1FY24. TCS's consolidated total income for the quarter ending in September soared by almost 8% year-on-year to Rs. 60,698 crore.
EBIT margin and dollar revenue have increased
The IT giant's EBIT margin for the September quarter climbed to 24.3%, up from 23.2% in the previous quarter. TCS's dollar revenue during this period stood at nearly Rs. 60,000 crore. These numbers highlight the company's strong financial performance despite a challenging business landscape and its ability to maintain profitability. TCS also declared a second interim dividend of Rs. 9 per share for its shareholders.
