TCS posts 5 pc net profit growth at Rs 11,909 crore in Q2, hires 5,726 people

Mumbai, Oct 10 (IANS) Tata Consultancy Services (TCS) on Thursday posted Rs 11,909 crore in net profit — a drop of 1.1 per cent quarter-on-quarter but a 5 per cent growth year-on-year — for the July-September period (Q2) this fiscal.
The revenue of the IT services major rose to Rs 64,259 crore, a YoY growth of 7.6 per cent, led by energy, resources and utilities and manufacturing.
TCS declared the second interim dividend of Rs 10 per share.
In the July-September quarter, the company hired 5,726 employees and now has a 612,724-strong workforce, with 35.5 per cent representation from women.
“We saw the cautious trends of the last few quarters continue to play out in this quarter as well. Amid an uncertain geopolitical situation, our biggest vertical, BFSI showed signs of recovery,” said K Krithivasan, CEO and Managing Director, TCS.
“We also saw a strong performance in our Growth Markets. We stay focused on sharpening our value proposition to our clients, employees and other stakeholders,” he added.
According to Chief Financial Officer Samir Seksaria, the company made strategic investments this quarter in talent and infrastructure to ensure sustainable growth.
“Our disciplined execution resulted in superior cash conversion. Our longer-term cost structures remain unchanged, and we remain confident in our ability to continue delivering industry leading profitable growth,” he added.
The company is witnessing continued momentum in AI and GenAI adoption, with the underlying technology gaining maturity at a very rapid pace.
There are now over 600 AI/GenAI engagements deployed successfully in production or in various phases of development.
“Our customers are increasingly concentrating on integrating AI throughout their entire enterprise value chain, rather than working on isolated use cases,” said TCS.
As on September 30, the company had applied for 8,354 patents, including 160 applied during the quarter and been granted 4,369 patents including 223 granted during the quarter.
–IANS
na/