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Tata Consultancy Services’ web rises 7.2%

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Overcoming seasonal headwinds, Tata Consultancy Services (TCS), India’s largest software program exporter, posted a 7.2 per cent enhance in web revenue at Rs 8,701 crore for the quarter ended December 2020 as towards Rs 8,118 crore in the identical interval a yr in the past. On a quarter-on-quarter foundation, the web revenue rose by 3.2 per cent from the September quarter.
Revenue elevated by 5.4 per cent to Rs 42,015 crore from Rs 39,854 crore a yr in the past.

Rajesh Gopinathan, MD and CEO, stated: “Growing demand for core transformation services and strong revenue conversion from earlier deals have driven a powerful momentum that helped us overcome seasonal headwinds and post one of our best performances in a December quarter.”
The sequential progress was led by North America (3.3 per cent), India (18.1 per cent), UK (4.5 per cent) and Continental Europe (2.5 per cent). Other markets grew as nicely with Asia Pacific rising 2.6 per cent, MEA 6.7 per cent, and Latin America 3.1 per cent. “We are entering the new year on an optimistic note … our confidence reinforced by the continued strength in our order book and deal pipeline,” he stated. TCS declared an interim dividend of Rs 6 per share.