TCS reports Rs. 10431 crores consolidated profit in Q2FY23

Tata Consultancy Services Ltd has reported Consolidated financial results for the period ended September 30, 2022.

Financial Results (Q2 FY2023) - QoQ Comparison

The company has reported total income of Rs. 56274 crores during the period ended September 30, 2022 as compared to Rs. 53547 crores during the period ended June 30, 2022.

The company has posted net profit / (loss) of Rs. 10431 crores for the period ended September 30, 2022 as against net profit / (loss) of Rs. 9478 crores for the period ended June 30, 2022.

The company has reported EPS of Rs. 28.51 for the period ended September 30, 2022 as compared to Rs. 25.90 for the period ended June 30, 2022.

Financials	Q2 FY2023	Q1 FY2023	% Change
Total Income	₹ 56274 crs	₹53547 crs	5.09%
Net Profit	₹10431 crs	₹9478 crs	10.05%
EPS	₹28.51	₹25.90	10.08%

Financial Results (Q2 FY2023) - YoY Comparison

The company has reported total income of Rs. 56274 crores during the period ended September 30, 2022 as compared to Rs.47978 crores during the period ended September 30, 2021.

The company has posted net profit / (loss) of Rs.10431 crores for the period ended September 30, 2022 as against net profit / (loss) of Rs.9624 crores for the period ended September 30, 2021.

The company has reported EPS of Rs.28.51 for the period ended September 30, 2022 as compared to Rs.26.02 for the period ended September 30, 2021.

Financials	Q2 FY2023	Q2 FY2022	% Change
Total Income	₹ 56274 crs	₹47978 crs	17.29%
Net Profit	₹10431 crs	₹9624 crs	8.39%
EPS	₹28.51	₹26.02	9.57%

Financial Results (Half Year Ended FY2023) - YoY Comparison

The company has reported total income of Rs.109821 crores during the 6 Months period ended September 30, 2022 as compared to Rs.94110 crores during the 6 Months period ended September 30, 2021.

The company has posted net profit / (loss) of Rs.19909 crores for the 6 Months period ended September 30, 2022 as against net profit / (loss) of Rs.18632 crores for the 6 Months period ended September 30, 2021.

The company has reported EPS of Rs.54.41 for the 6 Months period ended September 30, 2022 as compared to Rs.50.37 for the 6 Months period ended September 30, 2021.

Financials	Half Year Ended FY2023	Half Year Ended FY2022	% Change
Total Income	₹109821 crs	₹94110 crs	16.69%
Net Profit	₹19909 crs	₹18632 crs	6.85%
EPS	₹54.41	₹50.37	8.02%

Rajesh Gopinathan, Chief Executive Officer and Managing Director, said: "Demand for our services continues to be very strong. We registered strong, profitable growth across all our industry verticals and in all our major markets. Our order book is holding up well, with a healthy mix of growth and transformation initiatives, cloud migration and outsourcing engagements. As clients prepare for a more challenging environment ahead, technologies like cloud that have been embraced now have to be fully leveraged to realize the promised value. TCS has the combination of contextual knowledge, technology expertise and execution rigor to deliver on this imperative."

N Ganapathy Subramaniam, Chief Operating Officer and Executive Director, said: "This was another quarter of excellent execution that saw us delivering several transformational projects like the largest migration of 2.3 million policies to our TCS Insurance platform in one go in the UK, or the trading platform at the Gift City. Our delivery leadership congregated during the quarter and are raising the bar further on execution excellence with frameworks like Rigor in Transformation. We are pleased that our office facilities are becoming once again the place of buzz with more and more of our employees and clients celebrating togetherness to realize their full potential."

Samir Seksaria, Chief Financial Officer, said: "We are steadily making our way towards achieving our operating margin priority for the year, aided by leverage from good growth, the flattening of the workforce pyramid, steadily improving productivity and currency support. Very importantly, the headwinds from the supply-side challenges are abating, so that sets us up well for the seasonally weak second half of the year."

Milind Lakkad, Chief HR Officer, said: "Reflecting our culture of being committed to our employees, we have honored all the job offers we had made. Our investments in capacity building and organic talent development have allowed us to substantially grow our business ahead of headcount addition this quarter. We believe our quarterly annualized attrition has peaked in Q2 and should see it taper down from this point, while compensation expectations of experienced professionals moderate."

Source : Equity Bulls

Keywords

TCS Q2FY23 H1FY23 TataConsultancyServices ResultUpdate