TCS third-quarter profit dips on financial sector weakness

TCS third-quarter profit dips on financial sector weakness

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.

A Bloomberg poll of experts predicted consolidated net profit and revenue to be at Rs 6,532 crore and Rs 31,000 crore in Q3FY18.

Its income from operations rose about four percent to 309.04 billion rupees.

Research notes from brokerages released ahead of the results season predict TCS and Infosys revenues growing quarter-on-quarter by around 0.9 to 1.5 per cent, Wipro at 0.8-1.2%, HCL Technologies at 2.2 to 2.6 per cent and Tech Mahindra by 1.8 to 2.2 per cent. Last quarter, TCS had reported an improvement in operating margin by 170 basis points sequentially to 25.1 per cent.

The IT major's 3 clients added to over 50 million band, 7 clients added to over USD 20 million band, 9 clients to over USD 10 million band and 15 clients added to over USD 5 million band. We signed our first $50M+ deal in digital this quarter, crossing an important milestone in the mainstreaming of digital technologies. "TCS will provide valuable administration and quality customer service", he said.

In spite of good progress made in the past year, the retailer outlined plans to slow its Simply Food store openings in the future, noting that only the highest returning sites will qualify for addition to its store portfolio. He said Nasscom is an aggregation of a large spectrum of companies and there is a large dispersion in the business models and business strategies of these companies.


It added that employees transitioning to TCS will be given the opportunity to remain in the same U.S. cities where they are now based.

TCS said,"Employee reskilling initiatives, focused on building digital competencies at scale using anywhere anytime access, are helping employees stay relevant at a time of technology change".

United Kingdom retail group Marks & Spencer has announced a new technology transformation initiative that will enable it to become a digital first business and deliver an improvement in customer experience - but will also lead to the consolidation of its technology supplier base.

NB: What has been the employee addition for the quarter and attrition rate? The total number of nationalities represented in the workforce stood at 131.

Rajesh Gopinathan, the CEO and MD of TCS pointed out that Europe is likely to become its second largest market after the United States, sometime in the next four quarters.

At NSE, shares of the company went up 3.6 per cent to close at Rs 2,806.60.

Related Articles

  • IndusInd Bank's Q3 net profit up nearly  25%

    IndusInd Bank's Q3 net profit up nearly 25%

    According to eight Bloomberg analysts' estimates, the bank was expected to post a profit of Rs945 crore. Provisions and contingencies rose 8.9% to Rs236.16 crore in the quarter from Rs216.85 crore a year ago.
    Turkey summons United States  charge d'affaires over Syria: Turkish sources

    Turkey summons United States charge d'affaires over Syria: Turkish sources

    Turkey entered the war in Syria on the U.S.'s side, but has grown increasingly distant over USA support for Kurdish militants. A Syrian military source denied this and dismissed rebel talk of a counter attack as propaganda.
    Nigerians React As Benue Govt Buries Attack Victims

    Nigerians React As Benue Govt Buries Attack Victims

    The Leadership newspaper said the Federal Government has given explanations for the establishment of cattle colonies as against the nomadic structure now going on.
  • Rick Carlisle fires back against LaVar Ball's comments

    Rick Carlisle fires back against LaVar Ball's comments

    Deep down, the man thinks he should be coaching the Lakers. [Klay says], 'Oh, [I'd] have nothing to do with him.' So, no. A few days back, the elder Ball called out Lakers' coach Luke Walton , claiming the team doesn't want to play for him.
    Trump to crown 'Dishonest & Corrupt Media of the Year'

    Trump to crown 'Dishonest & Corrupt Media of the Year'

    In an email to his supporters on December 28, the Trump campaign sought nomination for the "King of Fake News " trophy. Late in the evening, Fox News listed out some news stories of other networks that later bear out to be erroneous.
    Gene therapy for inherited blindness to cost $850000

    Gene therapy for inherited blindness to cost $850000

    It's a gradual and cruel fate: an inherited form of vision loss that typically ends in blindness and has had no cure. Glybera, a gene therapy for a rare protein disorder, was launched in 2012 with a price tag of US$1.2millio.
  • Reversal of fortune? Dark cloud over James Franco after actress' innuendo

    Reversal of fortune? Dark cloud over James Franco after actress' innuendo

    She also included #MeToo in a tweet referencing Franco and Christian Slater but did not make specific claims against either man. James Franco's film about the making of the worst movie ever made is unironically one of the best movies of the year.
    HTC U11 EYEs leaks in full, Snapdragon 652 confirmed

    HTC U11 EYEs leaks in full, Snapdragon 652 confirmed

    Unfortunately, the device is launching with Android Nougat , instead of Oreo , with an expected reveal date of January 15th. The device will reportedly come with 64GB internal storage which can be expanded further by adding a microSD card.
    Play on words over NSA talks

    Play on words over NSA talks

    Modi also visited Pakistan in a surprise stopover on 25 December, 2015, on his way back from Russian Federation and Afghanistan. The Government on Thursday said "though terror and talks cannot go together, talks on terror can definitely go on".
  • Lalu aides in jail to 'serve' him? RJD denies charge

    Lalu aides in jail to 'serve' him? RJD denies charge

    Bharatiya Janata Party leader Shahnawaz Hussain asserted the verdict shows the law was equal for all. Then, the court said that that is why it has recommended their names for Open Jail in Hazaribagh.
    Cal State San Bernardino campus on lockdown following a non-injury shooting

    Cal State San Bernardino campus on lockdown following a non-injury shooting

    Officials warned that those on campus should "remain sheltered in place" and "do not attempt to leave campus". All Wednesday night classes were canceled as San Bernardino and university police investigated the incident.
    Teens are eating laundry pods in new social media challenge

    Teens are eating laundry pods in new social media challenge

    That's four years after Procter and Gamble chose to redesign its packaging to make it harder for children to access the pods. Soon enough, the ideas turned into reality, giving birth to one of the social media's deadliest trends in the recent times.