TCS declares Q3 Financial Results; Profit jumps 27%

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

TCS declares Q3 Financial Results; Profit jumps 27% 
Tata Consultancy Services has reported its consolidated financial results for the quarter ended December 31, 2012.
According to the latest update, TCS’s Operating Margin is at 27.3%, an expansion of 51 bps and its operating income is at Rs.4,381 crore – a growth of 13.4% y-o-y and 4.8% q-o-q. The earnings per share are at 18.15, dividend per share is at 3. 
At the end of Q3, the total employee strength of the company was 263,637 with a gross addition of 17,145 employees which included 9,831 trainees and 5,072 laterals in India as well as 2,242 employees in international locations. The net addition was 9,561 employees. Attrition rate in IT services fell further to 9.8% (LTM). Overall attrition, including BPO (22.3% LTM), was 11.2% (LTM). 
Commenting on the Q3 performance, Chief Executive Officer & Managing Director, N. Chandrasekaran, said, “We have had an excellent quarter of well-rounded performance and have driven a higher quality of revenue and increased profitability through focus on productivity and innovation. We had good revenue growth, balanced across service-lines, industries and geographies. Our agile, customer-centric organization is delivering an increasing number of larger and deeper client relationships.....See More

Comments

Post a Comment

Popular posts from this blog

N Chandrasekaran appointed chairman of Tata Sons

Image
The board of directors of Tata Sons, at its meeting has unanimously appointed N Chandrasekaran as executive chairman, Tata Sons. N Chandrasekaran shall take charge from February 21, 2017. The board of Tata Sons said, “Chandrasekaran has demonstrated exemplary leadership as the chief executive officer and managing director, Tata Consultancy Services. We believe he will now inspire the entire Tata group to realise its potential acting as leaders in their respective businesses, always in keeping with our value system and ethics and adhering with the practices of the Tata group which have stood it in good stead.” Chandrasekaran was the chief executive officer and managing director of Tata Consultancy Services since 2009. A Tata lifer, he had joined the company in 1987 and was appointed as a director on the board of Tata Sons on October 25, 2016.
Read more

Fake GST invoice scam; 215 people arrested, ₹700 cr recovered

Image
Fake GST invoice scam; 215 people arrested, ₹700 cr recovered:  The   Directorate General of GST Intelligence (DGGI)   has recovered more than ₹700 crore from the arrested 215 people and in the last two months. The individuals who have been arrested for   GST fake invoice frauds   and are fly-by-night operators who fraudulently avail, pass on and utilize input tax credit (ITC) in multi-layered scams. The GST intelligence authorities have also registered over 2,200 cases and have unearthed more than 6,600 fake   GSTIN   entities. “Out of the 215 arrests so far there are 71 masterminds, 81 proprietors, 36 director/managing directors, 15 partners, 3 CEOs, 6 chartered accountants and one each of company secretary, broker, and GST practitioner,” the statement said.   The recent usage of data analytics, data-sharing and AI along with BAFTA tools has helped the agency to detect fraudsters with precise inputs. The DGGI in its statement also said that the arrested include several managing dir
Read more

Visa buys NFT based CryptoPunk and paid $150,000 in Etherium

Image
Visa buys NFT based CryptoPunk and paid $150,000 in Etherium:  Leader in the digital payments   Visa   has purchased a digital CryptoPunk for $150,000, marking the company's first ever   NFT   purchase. The deal is clearly shows that, Visa is stepping into the world of NFTs with its purchase of   CryptoPunk 7610 .   Going forward, NFTs and Visa to align and integrate them in new brand strategy to gain a sizable market share. However, NFTs have often been compared to physical collectible items like rare trading cards and works of art.   The CryptoPunk 7610, which feBlatures a female punk with a mohawk and large green eyes. "We envision there could be a future where your crypto address becomes as important as your mailing address," Visa's Head of Crypto said.   An NFT - which stands for non-fungible token - is a unique digital asset designed to represent ownership of a virtual item. Unlike bitcoin and other cryptocurrencies, NFTs can’t be exchanged like-for-like with an
Read more