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TCS Records Strong Growth In Q3 Of FY23
The revenue at 7.075 billion, +8.4% YoY, +13.5% YoY in constant currency
Photo Credit : Shutterstock
Tata Consultancy Services (BSE: 532540, NSE: TCS) reported its consolidated financial results according to Ind AS and IFRS, for the quarter ending December 31, 2022.
Highlights of the Quarter Ended December 31, 2022
- Revenue at 7.075 billion, +8.4% YoY, +13.5% YoY in constant currency
- Order Book at $7.8 billion | Book to Bill at 1.1
- Operating Margin at 24.5%; contraction of 0.5% YoY
- Net Income at $1.318 billion, +1.1% YoY | Net Margin at 18.6%
- Net Cash from Operations at $1.354 billion ie 102.8% of Net Income
- Net headcount addition of -2,197 |Workforce strength: 613,974
- Diverse and inclusive workplace: Women in the workforce: 35.7% | 153 Nationalities
- Building a G&T workforce: 11.4 million learning hours clocked | 1.3 million competencies acquired
- LTM IT Services attrition rate at 21.3%
- Total Dividend per share of `75 per share including `67 as special dividend
Record date 17/01/2023 | Payment date 03/02/2023 - Total Shareholder Payout of `33,297crore Year till Date
Rajesh Gopinathan, Chief Executive Officer and Managing Director, said: “We are pleased with our strong growth in a seasonally weak quarter, driven by cloud services, market share gains through vendor consolidation, and continued momentum in North America and UK. The sustained strength of demand for our services is a validation of the value we provide to our clients in helping them differentiate themselves, while enhancing their competitiveness. Looking ahead, and beyond current uncertainties, our longer-term growth outlook remains robust.”
N Ganapathy Subramaniam, Chief Operating Officer and Executive Director, said: “As I look back at 2022, it’s gratifying to see the privileged partnership that we continue to enjoy with our clients globally. In a hybrid working model we delivered many complex transformation programs tailored to the specific needs of our clients’ ecosystem with speed and agility. It’s also refreshing to see our delivery centers and PacePort labs busy with our consultants and client executives jointly reimagining solutions to deliver the future, now. The year also saw us embracing data, AI and ML holistically to disrupt ourselves and drive competitive advantage to our clients’ businesses. All these augur well for our future as we step into 2023.”