TCS Q2 profit grows 6.7% to Rs 7,475 crore QoQ, announces Rs 16,000-crore share buyback

Spread the love

Tata Consultancy Services, the largest IT services company in India, on October 7 reported a profit after tax of Rs 7,475 crore for the quarter ended September 2020, registering a 6.7 percent sequential growth, with a share buyback of up to Rs 16,000 crore and deal wins of $8.6 billion.

Commenting on the Q2 performance, Rajesh Gopinathan, Chief Executive Officer and Managing Director, said:“Driving accelerated business value realization of our customers’ digital investments has resulted in broad-based revenue growth. The strong order book, a very robust deal pipeline, and continued market share gains give us confidence for the future.”

He added: What we are witnessing right now is the start of the first phase of a multi-year technology transformation cycle. In the current phase, enterprises are building a cloud-based foundation that will serve as a resilient, secure and scalable digital core. In subsequent phases, we will see the native capabilities of these platforms being utilized to create innovative new business models and differentiated customer experiences. Our investments in building deep expertise on these platforms, in research and innovation and in industry-specific solutions leveraging our contextual knowledge, position us very strongly to benefit fully from this secular demand driver.”

N Ganapathy Subramaniam, Chief Operating Officer & Executive Director, said: “Our all-round performance this quarter is a huge endorsement of the increased relevance of our services and solutions to our clients as they pivot from risk mitigation to long-term resilience powered by cloud, digital and simplification of working methods. Clients are partnering us to leverage our thought leadership in SBWS™, Vision 25 x 25™ and Location Independent Agile™ to build a resilient, adaptable and future-proof operating model.” 

Leave a Reply

Your email address will not be published. Required fields are marked *

Next Post

ŠKODA AUTO India forays the used car market with ‘Certified Pre-Owned’ programme

Wed Oct 7 , 2020
Spread the loveŠKODA AUTO India introduced the ‘Certified Pre-Owned’ programme with an exclusive range of handpicked vehicles meticulously assessed by trained professionals, across a comprehensive […]

Quick Links