TCS Surges Ahead with Nearly 12% Profit Hike

Tata Consultancy Services (TCS) reported an 11.95% increase in net profit to Rs 12,380 crore for the December quarter. The company's income rose by 6.13% year-on-year, despite a rise in expenses. Interestingly, the employee count decreased by over 5,000 during this period.

Tata Consultancy Services (TCS), India's largest IT services exporter, announced an impressive 11.95% rise in net profit for the December quarter, reaching Rs 12,380 crore. This marks a significant improvement compared to Rs 11,058 crore in the same quarter last year, and Rs 11,909 crore in the preceding September quarter.

The company's total income grew by 6.13% to Rs 65,216 crore from Rs 61,445 crore year-on-year, surpassing even the previous quarter's earnings. However, expenses also rose by 6.33% to Rs 48,550 crore compared to Rs 45,658 crore in the previous year.

Despite these financial gains, TCS observed a decrease in its employee base by over 5,000, bringing the total headcount to 6,07,354 by the end of the quarter. The TCS shares closed at Rs 4,036.65, down by 1.72% on the BSE, amid the benchmark's 0.68% downturn.

(With inputs from agencies.)