THE country's largest IT services company Tata Consultancy Services (TCS) on Thursday beat Street estimates and reported a 12% increase in its net profit at ₹12,380 crore for the third quarter ended December 2024 compared to ₹11,058 crore in the same quarter last year.
However, excluding the settlement of the legal claim that it had incurred in Q3 FY24, its y-o-y net income growth stood at 5.5%. The company's net margin for the third quarter was at 19.4%. Its revenue for the quarter ended December 2024 was at ₹63,973 crore, up 5.6% YoY.
In Q3, the company saw macro factors of Q2 continuing as well as it was coupled with seasonality. "The third quarter also showed softness in discretionary demand so they contributed to the negative sequential growth in all major markets," said K Krithivasan, Chief Executive Officer and Managing Director, TCS.
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