India Markets open in 4 hrs 23 mins

TCS Posts Record 24.1% Rise In Net Profit For Q3FY19

Roshni Agarwal

The Mumbai-headquartered software major TCS in its third quarterly results announced today posted 24.1% rise in its net profit. The net profit of the company for the quarter ended December stood at Rs. 8,105 crore ($1.15 billion) in comparison to the profit figure of Rs. 6,531 crore reported in the year-ago period. Some of the segments that drove the company's profitability include banking, financial services and insurance.

Income from operations rose 20.8%, it said in a statement. The company's revenue from the BFSI segment also surged 23%.

Further in a statement to the exchanges, the salt-to-software conglomerate said that its sequential revenue growth was primarily fuelled by the UK and Europe, and it increased 25.1% and 17.6%, respectively.

TCS shares just ahead of the result announcement closed slightly higher at 1,888.15 on the BSE.

Also Read:

HDFC Group Pips Tatas In Terms Of Market Value

M&M Q2 Net Profit Increases 26% YoY To Rs 1,778.75 Crore

GST Registration Threshold Doubled, Committee Set-Up For Real Estate GST Rates