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TCS net dips 4 per cent in Q3

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The group said around 250 roles will transfer to Indian giant Tata Consultancy Services, although they will remain based at the firm's IT headquarters at Stockley Park in Middlesex

Profit for October-December quarter is expected to be flat at Rs 6,460 crore against Rs 6,446 crore in previous quarter, according to average of estimates of analysts polled by CNBC-TV18.

Sales in dollar terms, the currency in which India's IT sector earns much of its revenue, rose 1 percent to $4,787 million from $4,739 million for the September quarter.

The company signed its first $50 million plus digital deal in this quarter, which is an important milestone in the mainstreaming of digital technologies for the company.

"We wrapped up 2017 with a strong performance in the December quarter, marked by the signing of industry-defining deals, robust client metrics and broad-based demand across industry verticals".

Gopinath said smaller industries like energy, utilities and travel and hospitality grew at a "scorching pace" with a 20-25% YoY growth.

Over the last few years, Mumbai-headquartered TCS has sharpened its focus in the emerging digital business, which would span newer technologies such as artificial intelligence (AI), analytics, mobility, the Internet of Things (IoT) and cloud computing. TCS' digital revenue saw an increase of about 40% year-on-year and accounted for 22.1% of the company's revenues, the company said in a statement. The constant currency revenue growth came in at 6.2 yoy and 1.3% qoq.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 10th. The firm has a 50-day moving average price of $172.47 and a 200-day moving average price of $155.89.

This was the company's strongest volume growth for the December quarter in three years.

Net cash from operations were at $1,026 million which 119.2% of net income, said TCS.

Gopinath said continental Europe, which grew 2.6% in CC, was poised to become the second largest market after the United States next year. That compared with 16.8 percent of the company's total sales for the year-earlier quarter.

Total employee strength of TCS at end of Q3FY18, stood at 390,880 on consolidated basis, with gross addition of 12,534 employees and net addition of 1,667 employees. When contacted, Nasscom president R Chandrashekhar said, "We have ourselves been saying this single number no longer represents the totality of what's happening in the industry".

"TCS is helping to guide many of today's leading companies through their business 4.0 journeys, in building their digital spines, becoming more agile, creating superior customer experiences, and driving exponential growth", said Rajesh Gopinathan, CEO and Managing Director of Tata Consultancy Services.

At NSE, shares of the company dipped 1.79 per cent to Rs 2,740.55.

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