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TCS net up 50 percent in third quarter

Posted on Jan 16 2014 | IANS

Mumbai, Jan 16 : Tata Consultancy Services (TCS) reported net profit of Rs.5,314 crore for the third quarter (October-December) of this fiscal (2013-14), posting a whopping 50 percent increase year-on-year (YoY) and 13 percent sequentially as per the Indian accounting standard.

In a regulatory filing to the stock exchanges Thursday, the IT bellwether said revenue for the quarter under review (Q3) increased to Rs.21,294 crore, registering 33 percent YoY growth but 1.5 percent sequentially from second quarter (July-Sept).

Under the International Financial Reporting Standard (IFRS), revenue rose marginally to USD 3,438 million (USD 3.4 billion) from USD 3,337 million (USD 3.3 billion) in second quarter, posting a marginal 3.8 percent sequential growth.

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