business-india-news

TCS net up 34 percent in second quarter

Mumbai, Oct 15 : Tata Consultancy Services (TCS) reported Rs.4,702 crore net profit for the second quarter of fiscal 2013-14, registering 34 percent year-on-year (YoY) growth from Rs.3,512 crore in the same period a year ago.


In a regulatory filing with the stock exchanges Tuesday, the IT bellwether said its consolidated revenue for the quarter under review (Q2) rose 16.6 percent YoY to Rs.20,977 crore from Rs.15,621 crore in the same period a year ago.

Sequentially, net profit grew 24 percent from Rs.3.96 crore and revenue 16.6 percent from Rs.17,987 crore in the first quarter.

Under the International Financial Reporting Standard (IFRS), net income grew 16 percent YoY to USD 748 million and gross income 17 percent YoY to USD 3.34 billion.

Sequentially, net income grew 12 percent from USD 668 million and gross income 5.4 percent from USD 3.17 billion in the first quarter.

--IANS (Posted on 15-10-2013)

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