TCS released second-quarter results, profit up 14.1 percent to Rs 9,624 crore


Mumbai: The country’s largest IT firm Tata Consultancy Services ie TCS (Tata Consultancy Services) on Friday announced its financial results for the second quarter of the current financial year (2021-22). The company reported a consolidated net profit of Rs 9,624 crore for the quarter ended September 2021, as against Rs 9,008 crore in the June quarter.

TCS’s income stood at Rs 46,867 crore in the July-September quarter of 2021-22 as against Rs 40,135 crore in the same quarter a year ago. The company’s CEO and MD Rajesh Gopinathan said, “The strong and consistent demand environment provides a decade-long opportunity for our customers to establish themselves as the preferred growth and transformation partner.”

He further added, “We are using the growth tailwind to invest in strengthening capabilities and creating a large portfolio of offers that cater to a set of shareholders in the enterprise across the business cycle, our brand. strengthens and makes our business more resilient.”

TCS share price, which hit a new record high of Rs 3,990 earlier in the day, closed 1.1 percent higher at Rs 3,935.30 ahead of the September quarter results. The market capital of the company was more than Rs 14.5 lakh crore.

With a profit of 22.5 percent in the financial year 2021-22, it was the lowest gainer in the Nifty IT index after Infosys (up nearly 24 percent) and HCL Technologies (up 33 percent).