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Home Business News TCS reports 7% jump in December-quarter profit - Times of India

TCS reports 7% jump in December-quarter profit – Times of India

BENGALURU: Tata Consultancy Services (TCS) on Friday reported a 7.2% jump in its profit for the final quarter of 2020, as India’s top software services firm benefited from greater demand for cloud services during the Covid-19 pandemic.
Net profit rose to Rs 8,701 crore ($1.19 billion) in the three months to December 31, 2020, from Rs 8,118 crore a year earlier.
Revenue from operations jumped 5.4% to Rs 42,015 crore.
The company had posted a profit of Rs 7,475 crore in the previous quarter (Q2).
Rajesh Gopinathan, chief executive officer and managing director, said: “Growing demand for core transformation services and strong revenue conversion from earlier deals have driven a powerful momentum that helped us overcome seasonal headwinds and post one of our best performances in a December quarter.”
The board also declared an interim dividend of Rs 6 per equity share.

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