(): Country’s largest software services major Tata Consultancy Services (TCS) on Friday reported a muted 0.2 per cent growth in consolidated net profit at Rs 8,118 crore for the third quarter ended December 2019. This is against a net profit of Rs 8,105 crore in the year-ago period, TCS said in a BSE filing.
Revenue of the city-based firm grew 6.7 per cent in the quarter under review to Rs 39,854 crore from Rs 37,338 crore in the corresponding period of the last fiscal, it added.
“We saw the sectoral trends of the first half of the year continue to play out in the third quarter. Our robust order book during the quarter reflects our ability to pitch innovative technology solutions to address the business needs of different stakeholders in the enterprise, and participate in our customers’ enterprise-wide transformation initiatives,” TCS CEO and managing director Rajesh Gopinathan said in a statement. This is helping deepen and broaden the company’s customer relationships and make the business more resilient, he added.
The TCS board has declared a third interim dividend of Rs 5 per equity Share of Rs 1 each of the company.
HCL Tech Q3 net profit rises 13% to Rs 2,944 cr
New Delhi (PTI): IT major HCL Technologies on Friday posted a 13 per cent rise in its consolidated net profit at Rs 2,944 crore for the December 2019 quarter. The company had registered a net profit of Rs 2,605 crore in the year-ago period as per Indian Accounting Standards, HCL Technologies said in a statement.
Its revenue from operations grew 15.5 per cent to Rs 18,135 crore in the quarter under review, from Rs 15,699 crore in the year-ago period. The company has revised its revenue growth outlook to 16.5 -17 per cent for 2019-20 from its previous forecast of 15-17 per cent topline growth in constant currency terms.
HCL Technologies’ board has declared a dividend of Rs 2 per share.
“We continue our stellar performance over the years and have now crossed a revenue run rate of USD 10 billion this quarter. Our revenues have grown 16.4 per cent year-on-year in constant currency and we have delivered a strong 20.2 per cent earnings before interest and taxes (EBIT),” HCL Technologies President and CEO C Vijayakumar said. He added that within two quarters of its inception, HCL Software has already onboarded 4,600 customers. “I am pleased that our results continue to validate and reinforce our growth, profitability and investment strategies,” Vijayakumar said.
In dollar terms, the net profit grew 17.2 per cent to USD 426.5 million for the December 2019 quarter, while revenue surged by 15.5 per cent to USD 2.5 billion as compared to the year-ago period, as per the US Generally Accepted Accounting Principles.