TCS Q2 performance – 10 things to know about the IT giant’s latest earnings report

Oct 10, 2022


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TCS September quarter profit crossed ₹10,000 crore

The IT major reported a profit of ₹10,431 crore, growing 10 percent from ₹9,478 crore in April-June.

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Revenue beats expectations

Revenue for the quarter grew 4.8 percent on a sequential basis to ₹55,309 crore. The revenue growth has beaten most analyst expectations - which was for a 3 percent rise sequentially.

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TCS says demand ‘very strong’

The management says demand for services continues to be ‘very strong’ with growth across verticals – the company’s order book stood at $8.1 billion at the end of the quarter.

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Performance of verticals

The communications segment emerged as the best performer with 10 percent QoQ growth, followed by BFSI (6 percent) and retail (5 percent).

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Region performance

Its primary markets – North America and EU – delivered double digit growth. While North America surged 17.6 percent in constant currency terms, the UK surged 14.8 percent and the EU grew 14.1 percent.

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attrition, employees leaving, pixabay

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TCS to hire 10,000 - 12,000 more employees in FY23

The company hired 20,000 freshers in Q2, an increase of 33 percent over the previous quarter. Overall, its H1FY23 fresher hires came in at 35,000, down from 43,000 in H1FY22.

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It announced an interim dividend of ₹8 per share.

Credit: Investopedia

Stock performance

On expectations of a strong quarter led by fueling demand and rupee depreciation, the stock price of the company had risen 1.93 percent at ₹3,124 today, ahead of the announcement.

Credit: Canva

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