Tata Consultancy Services (TCS) – India’s biggest IT Company. TCS is the first Indian IT Company to declare its Quarter-2 earnings to the public this Thursday. The company reported having a 1.8 percent year-on-year (YoY) increase in net profit of Rs 8,042 crore for the Q2. TCS has managed to sustain its position and brag the huge revenue, the growth rate expected from the TCS for the Q2 was bit higher from the resulted growth rate. The challenge that TCS has to face this quarter to deliver the double-digit growth trajectory.
Words from TCS CEO Rajesh Gopinathan,
“We ended the quarter with steady growth despite increased volatility in the financial services and retail verticals. We remain confident as the medium and longer-term demand for our services continues to be very strong, as evidence by our Q2 order book- the highest in the last 6 quarters”
There is a slight slowdown for the emerging IT demand, even though in the last quarter, TCS managed to get the outsourcing contracts worth $5.7 billion. TCS has grasped deals worth $5 billion and more continuously from the last four quarters. This quarter TCS is majorly concentrating on the projects of the Banking and finance sector and life science which will help the company to maintain healthy growth and to meet the expected growth-rate trajectory from the TCS.
On the contradictory side TCS like every year, this year also has started hiring technical professionals as well as MBA graduates with the campaign name “Better You” on a mass scale. TCS believes that students' aspirations should meet with suitable opportunities to enable them to reach their maximum potential which will prove as the win-win situation for both i.e. for the students and the TCS.
· TCS announced its second interim dividend of Rs 5 and a special dividend of Rs 40 per equity share.
· The shares of the TCS closed 0.88 percent lower at Rs 1986.85 on NSE.
· Registration ends on 28/10/19 for TCS MBA HIRING DRIVE 2020 who can join TCS in FY
2020-21.
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