MUMBAI: Tata Consultancy Services, the largest software exporter from the country, has logged in a 5% growth in net income at R11,909 crore, earning an 18.5% profit margin from a R64,259-crore revenue that has clipped at 7.6% y-o-y in the September quarter.
Following the passing of Ratan Naval Tata late Wednesday night due to age-related ailments, the emeritus chairman of the group as well as the parent Tata Sons, has called off the planned post-earnings presser to mourn the timely demise of its ex-chairman under whom it has become the largest software exporter and also the group’s cash cow.
On a sequential basis, net income inched down by 1.1%, missing Street expectations. Despite the better than expected numbers, the TCS counter declined 50 bps to R4,228.40 on the BSE at close after hitting a high of R4,293.30 intra-day.
The earnings were declared after the market hours. The quarter saw the company netting an operating margin of 24.1% helping it fetch a net margin of 18.5%.
This had net cash from operations coming in at R11,932 crore, which is 100.2 % of the net income. During the quarter, while many of its peers are yet to honour the job offers given earlier, TCS added more than 11,000, taking the overall headcount to 6,12,724, taking the net addition to 5,726, this has the attrition getting contained at 12.3%.