{"id":1277739,"date":"2024-01-12T07:40:57","date_gmt":"2024-01-12T02:10:57","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1277739"},"modified":"2024-01-12T07:41:19","modified_gmt":"2024-01-12T02:11:19","slug":"tcs-beats-infosys-in-q3-earned-rs-130-cr-day-as-profits-increase-by-8-2-to-rs-11735-crore","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/tcs-beats-infosys-in-q3-earned-rs-130-cr-day-as-profits-increase-by-8-2-to-rs-11735-crore\/","title":{"rendered":"TCS Beats Infosys In Q3: Earned Rs 130 Cr\/Day As Profits Increase By 8.2% To Rs 11,735 Crore!"},"content":{"rendered":"\n<p>Tata Consultancy Services Ltd (TCS) on Monday reported 8.2% rise in consolidated net profit to <a href=\"https:\/\/www.thehindu.com\/business\/tcs-q3-net-profit-grows-82-to-11735-cr-despite-headwinds\/article67731146.ece\">\u20b911,735 crore <\/a>for October-December 2022 quarter, aided by strong double-digit growth in India and other emerging markets.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"465\" src=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/01\/Untitled-design-14-1.png\" alt=\"TCS Beats Infosys In Q3: Earned Rs 130 Cr\/Day As Profits Increase By 8.2% To Rs 11,735 Crore!\" class=\"wp-image-1277752\" srcset=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/01\/Untitled-design-14-1.png 1000w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/01\/Untitled-design-14-1-300x140.png 300w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2024\/01\/Untitled-design-14-1-768x357.png 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/figure>\n\n\n\n<p>Revenue for the third quarter rose by 4% year-on-year to \u20b960,583 crore. In constant currency terms, revenue grew 1.7% over same quarter last fiscal.<\/p>\n\n\n\n<p><strong>&#8220;Performance Shows Strength of Business Model&#8221;<\/strong><\/p>\n\n\n\n<p>&#8220;Our strong performance in a seasonally weak quarter buffeted by macro headwinds demonstrates the resilience of our business model,&#8221; said CEO and MD K Krithivasan.<\/p>\n\n\n\n<p>He highlighted that even as global economic uncertainty persists, TCS is seeing robust deal intake across geographies providing revenue visibility.<\/p>\n\n\n\n<p><strong>Customer Interest Rising in AI<\/strong><\/p>\n\n\n\n<p>&#8220;We are seeing tremendous interest in Generative AI and are leading innovation efforts for customers in this area,&#8221; Krithivasan added.<\/p>\n\n\n\n<p>During the quarter, TCS took a one-time $125 million charge to settle legal claims where total amount sought was $140 million.<\/p>\n\n\n\n<p><strong>Making Headway on Strategic Projects<\/strong><\/p>\n\n\n\n<p>&#8220;We made significant progress on strategic national projects like BSNL 4G\/5G rollout. We continue upskilling employees in Generative AI using our AI playground,&#8221; said COO N Ganapathy Subramaniam.<\/p>\n\n\n\n<p>About 65% of staff are working from TCS offices currently, with rest expected to return by FY23-end. TCS will restart campus hiring next fiscal.<\/p>\n\n\n\n<p>Attrition rate moderated to 13.3% versus 14.9% last quarter. Growth was led by Energy &amp; Utilities, Manufacturing and Life Sciences verticals.<\/p>\n\n\n\n<p>But Banking, Financial Services, Communications, Media and Technology segments saw revenue decline over last year. Among geographies, India led with 23.4% rise followed by Middle East, Latin America and Asia Pacific.<\/p>\n\n\n\n<p>&#8220;Though global situation on ground unchanged, we see strong order book providing long-term growth visibility,&#8221; said Krithivasan.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tata Consultancy Services Ltd (TCS) on Monday reported 8.2% rise in consolidated net profit to \u20b911,735 crore for October-December 2022 quarter, aided by strong double-digit growth in India and other emerging markets. Revenue for the third quarter rose by 4% year-on-year to \u20b960,583 crore. In constant currency terms, revenue grew 1.7% over same quarter last [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":1277752,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[311,92],"class_list":["post-1277739","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-infosys","tag-tcs"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>TCS Beats Infosys In Q3: Earned Rs 130 Cr\/Day As Profits Increase By 8.2% To Rs 11,735 Crore! - Trak.in - Indian Business of Tech, Mobile &amp; Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/tcs-beats-infosys-in-q3-earned-rs-130-cr-day-as-profits-increase-by-8-2-to-rs-11735-crore\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TCS Beats Infosys In Q3: Earned Rs 130 Cr\/Day As Profits Increase By 8.2% To Rs 11,735 Crore! - Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"og:description\" content=\"Tata Consultancy Services Ltd (TCS) on Monday reported 8.2% rise in consolidated net profit to \u20b911,735 crore for October-December 2022 quarter, aided by strong double-digit growth in India and other emerging markets. 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