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TCS posts 1.3% rise in PAT QoQ; meets expectations

NEW DELHI: Tata Consultancy Services (TCS), the country&#039..

NEW DELHI: Tata Consultancy Services (TCS), the country's largest IT firm, on Thursday reported 1.3 per cent quarter-on-quarter (QoQ) rise in net profit at Rs 6,531 crore for the quarter ended December 31, 2017. It had posted net profit of Rs 6,446 crore in the sequential quarter ended September 30, 2017.

ET Now poll had predicted a net profit of Rs 6532.70 crore in Q3FY18.

In a filing to BSE, the IT major said that its total income for the quarter rose 1.32 per cent QoQ to Rs 31,774 crore for the quarter under review.

The company announced an interim dividend of Rs 7 per share.

Commenting on the Q3 performance, Rajesh Gopinath, CEO and MD said, "We wrapped 2017 with a strong performance in the December quarter, marked by the signing of industry-defining deals, robust client metrics and broad-based demand across industry verticals. As lagging parts of our portfolio turn around, and areas of softness reduce, we are well placed for stronger growth ahead."

"We signed our first $50 million plus deal in digital this quarter, crossing an important milestone in the mainstreaming of digital technologies," Gopinathan said.

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