Nirmal Bang Institutional Equities had expected TCS to deliver CC revenue growth of 4 per cent QoQ and dollar revenue growth of 4.5 per cent QoQ. Inside The Race To Save The Only Woman On Federal Death Row; America in 2021: Racial Progress in … Other markets grew as well, with and Asia Pacific growing +2.6 per cent, MEA +6.7 per cent, and Latin America +3.1 per cent, the company said in a press release. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. Copyright © HT Digital Streams Limited All rights reserved. Jio launches facility to answer landline calls on mobile phones. Kindly visit the Manage my subscription page to discover the benefits of this programme. The September quarter net profit had a post-tax one-time impact of Rs 958 crore due to provision for ongoing litigation with EPIC, the company said in a press release. On the operational front, its earnings before interest and tax (EBIT) grew by 6.4 per cent sequentially to Rs 11,184 crore and the operating margin for Q3 grew 1.6 per cent YoY and 0.4 per cent QoQ to 26.6 per cent. The single largest shareholder of TCS, Tata Sons tendered more than 3.33 crore shares during the offer, according to a regulatory filing. TCS Dividend Payment Details. TCS Q3: Revenues rose to ₹ 39,854 crore TCS Q3 results: Net profit rises to ₹ 8,118 crore 1 min read. ICICI Direct, for instance, had projected a 5.7 per cent YoY jump in PAT. The - Q4 2020 U.S. common dividends … Last Updated at January 8, 2021 18:56 IST. It'll just take a moment. This boundaryless value creation, supported by the seamless fabric of technology enabled by cloud together the seamless fabric of talent enabled by our SBWS™, will redefine industry after industry over the longer term. Strong Demand Drives TCS Q3 Growth Momentum. Tata Consultancy Services | Q3 results | Markets, SI Reporter  |  ($1 = … Topics IT major Tata Consultancy Services (TCS) on Friday reported 7.17% increase in net profit for the quarter ending 31 December, 2020 (Q3) at ₹8,701 crore as against ₹8,118 crore in Q3 in 2019. Tata Consultancy Services Limited has informed the Exchange regarding a press release dated December 23, 2020, titled "TCS Honored with CII Industrial IP Award 2020 for Best Patents Portfolio". TCS' consolidated headcount stood at 469,261 as of December 31, 2020 while its IT services attrition rate (LTM) was at 7.6 per cent, its lowest ever. Friday, January 8, 2021. Russia's TCS Group, which owns Tinkoff Bank, reported a 30% rise in third-quarter net profit on Thursday and reinstated its pre-pandemic financial forecast for the full year. We, however, have a request. Strong Demand Drives TCS Q3 Growth Momentum [January 08, 2021] Strong Demand Drives TCS Q3 Growth Momentum. Enjoy Reading! We celebrated the accomplishment of our Enterprise Agile by 2020 vision during the quarter, and with SBWS™, we have a well-oiled location-independent execution model that brings in the resources just in time, efficient execution, and machine-led delivery governance that are delighting our customers. Home; Biz. The firm said it was the strongest third quarter growth in 9 years. What is the TCS Net Worth 2020? We also had an all-time high cash conversion in Q3. The company's revenue rose 5% to ₹42,015 crore from ₹39,854 crore in the corresponding period last fiscal, it added. "Looking beyond the immediate business growth opportunity, we are tremendously excited by what lies ahead. NEW DELHI: Tata Consultancy Services, India's largest IT exporter in terms of revenues, on Friday said its profit rose 7.18 per cent YoY to Rs 8,701 crore in December quarter compared with Rs 8,118 crore in the corresponding quarter last year. In dollar terms, revenue grew at 5.1 per cent sequentially from $ 5.424 billion reported in Q2FY21. TCS said over 5.33 crore equity shares were bought back under the offer at a price of ₹3,000 apiece and out of the total, Tata Sons' 3,33,25,118 shares were accepted under the buyback offer. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. TCS has recently announced acquisitions such as of the IT unit of Deutsche Bank AG and Pramerica Systems, a unit of Prudential Financial Inc., which could help it expand into new areas. TCS will be the first company in the sector to present its Q3 result compared to peers Infosys and Wipro. Click here to read the Mint ePaperMint is now on Telegram. Cloud is enabling a new class of boundaryless organizations, that can seamlessly partner and collaborate within larger ecosystems to create innovative purpose-driven offerings to customers. Moreover, it is a direct beneficiary of the persistent market share loss of key players such as Capgemini and Cognizant," the brokerage had said in an earnings preview note. Mumbai: India’s largest IT services exporter Tata Consultancy Services (TCS) reported a 7.18% YoY jump in net profits during the third quarter (Q3) for the financial year 2020-21 (FY21).TCS Q3 FY21 net rose to Rs 8,701 crore as compared to Rs 8,118 crore in the year-ago period. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. document.write("");googletag.cmd.push(function(){googletag.defineOutOfPageSlot('/6516239/outofpage_1x1_desktop','div-gpt-ad-1490771277198-0').addService(googletag.pubads());googletag.pubads().enableSyncRendering();googletag.enableServices();}); The company's revenue came in at Rs 42,015 crore, up 5.42 per cent YoY and 4.68 per cent QoQ. Business Standard is happy to inform you of the launch of "Business Standard Premium Services". The firm had posted a profit of Rs 8,118 crore in the same quarter last year (Q3FY20). TCS will be distributing a 1:1 bonus issue of equity shares. In case you can’t find any email from our side, please check the spam folder. Remove some to bookmark this image. New Delhi  "Being the market leader, TCS will be a key beneficiary of core transformation, higher cloud adoption and digital adoption. Deutsche Bank to pay $100 million to avoid bribery charge, Flipkart, Swiggy reject all allegations of tax evasion, Sebi bans Mountain View Developers and three people for six months, 'Growing demand for core transformation services and strong revenue conversion from earlier deals have driven a powerful momentum that helped us overcome seasonal headwinds,' says TCS CMD. On a YoY, constant currency basis, Life Sciences and Healthcare continued to grow in double digits at 18.2%. (PRNewsFoto/Tata Consultancy Services) (PRNewsfoto/Tata Consultancy Services) Highlights of the Quarter Ended December 31 , 2020 Revenue at $5.702 Bn , + 5.1 % QoQ, +2.1% YoY We believe in free, fair and credible journalism. Oops! On quarter-on-quarter (QoQ) basis, the profit grew 16.4 per cent from Rs 7,475 crore posted for the quarter ended September 2020 (Q2FY21). TCS, the parent company of Tinkoff Bank, said it expected net income to be at least 42 billion roubles in 2020 and announced an interim dividend payout of $0.25 per share. IT major Tata Consultancy Services on Friday posted a 7.18 per cent year-on-year (YoY) rise in its December quarter (Q3FY21) profit at Rs 8,701 crore. As a premium subscriber you get an across device unfettered access to a range of services which include: Welcome to the premium services of Business Standard brought to you courtesy FIS. - Q4 2020 U.S. common dividend increases were $13.9 billion, up from $8.4 billion in Q3 2020, $6.7 billion in Q2 2020, and $12.0 billion in Q4 2019. Imp. Tata Consultancy Services (TCS) on Friday reported a 7.2% growth in its latest quarterly profit, deriving the country’s largest IT services exporter’s strongest growth in nine years. Geography-wise, sequential growth was led by North America (+3.3 per cent), India (+18.1 per cent), UK (+4.5 per cent), and Continental Europe (+2.5 per cent). Team Business Standard, Last Updated at January 8, 2021 18:56 IST, TCS Q3 profit jumps 7% YoY to Rs 8,701 cr, announces dividend at Rs 6/share, Myntra Designs revenue up 58% to Rs 1,719 crore, losses increase by 38%, TVS Motor Company's domestic two-wheeler sales grow 30% in November, Surprise amid pandemic: Firms across sectors beat Q2 earnings expectations, Dewan Housing's second quarter net loss narrows to Rs 2,122 crore, Siemens Sept quarter profit slips 5% to Rs 333 cr on higher expenses, Fino Payments Bank registers profit for the third straight quarter, Leaders and laggards: Sectors that did well in Q2, and those that didn't, ONGC Q2 net profit down 55% at Rs 2,878 cr due to lower crude oil price, Indiabulls Real Estate posts Rs 76 cr net loss in September quarter, TCS Q3 preview: Cloud adoption, large deal wins may lift profit by 8% YoY, IT shares in rally; Tech Mahindra's m-cap tops Rs 1-trillion; Wipro up 5%, TCS Q2 PAT down 7% YoY at Rs 7,475 cr; announces Rs 16,000 crore buyback, TCS m-cap nears Rs 12 trillion mark; stock rallies over 8% in 3 days, TCS to roll out salary hikes for all employees, effective October 1, Access Exclusive content - articles, features & opinion pieces, Weekly Industry/Genre specific newsletters - Choose multiple industries/genres, Access to 17 plus years of content archives, Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box, End of day news alerts on 5 companies (via email). 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