CY18 $ Revenue at 20.5 Bn; up 10.3%
$ Revenue grows +9.7% YoY; Constant currency: +1.8% QoQ and +12.1% YoY,
Stellar growth in UK & Europe: +25.1% and +17.6% YoY
Industry-leading Digital Growth: +52.7% YoY
Net Income up 12.7% YoY
Mumbai, January 10, 2019: Tata Consultancy Services (BSE: 532540, NSE: TCS), the leading IT services, consulting and business solutions firm reported its consolidated financial results according to Ind AS and IFRS for the period ending December 31, 2018.
Financial Highlights for Quarter Ended December 31, 2018
Record date 18/01/19; Payment date 24/01/19
Business Highlights for Quarter Ended December 31, 2018
Commenting on the Q3 performance, Rajesh Gopinathan, Chief Executive Officer and Managing Director, said: “We are wrapping up 2018 with strong revenue growth of 12.1% in the December quarter, which is the highest in 14 quarters, with continued growth acceleration in key verticals and across all geographies. The strong client metrics, industry-leading growth in digital services, a very strong order book and deal pipeline are all validations that customers recognize our differentiated capabilities and are picking us for their growth and transformation programs.”
He added: “On a secular basis, as large segments of the economy go through churn was driven by digital disruption, enterprises are responding with technology-powered strategies – as in algorithmic retailing or connected cars – creating a huge opportunity for services providers like us. Our investments in research and innovation, our deep domain and contextual knowledge, intellectual property and our collaborative approach to co-innovation, have been key to our participation in this opportunity. This quarter, we launched a new brand, TCS Pace™ embodying these capabilities and offering our customers a line of sight to success in a Business 4.0 world.”
N Ganapathy Subramaniam, Chief Operating Officer & Executive Director, said: “This has been a very satisfactory quarter in terms of revenue growth as well as operating metrics. The investments that we have been making in building newer capabilities and frameworks are starting to bear fruit. Our location independent Agile methodology and Machine First™ approach have been key in helping us advance CEO-level enterprise transformation agendas.”
V Ramakrishnan, Chief Financial Officer, said: “Despite headwinds from the Rupee volatility against various currencies, and the higher cost of doing business in some major markets, our operating margins have been resilient. We remain focused on driving rigor in our operations, generating strong cash flows and steering profitability back to our preferred range, while continuing to invest strongly for future growth.”
Industries: Revenue growth continued to accelerate in BFSI (+8.6% vs +6.1% in Q2). Growth was led by Energy Utilities (+18.1%), Life Sciences & Healthcare (+15.7%), Communications & Media (+10.8%) and Retail & CPG (+10.5%)
Markets: Revenue growth accelerated in all the geographies compared to Q2. Growth was led by UK (+25.1%), Europe (+17.6%), and Asia Pacific (+12.6%). North America grew 8.2%, India grew 9.7% and Latin America grew 7.6%.
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