TCS Delivers Strong Q3; Rev Crosses $7 bn Propelled by Cloud Demand and Market Share Gains

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–          Revenue Growth of +13.5% YoY in CC; 8.4% YoY in USD

–          Growth led by North America & UK (+15.4% YoY in CC)

–          Operating Margin at 24.5%; Net Margin at 18.6%

–          IT Services Attrition trending down: LTM Attrition at 21.3%

–          Board Announces Dividend of `75/share Including Special Dividend of `67/share
 

MUMBAI, January 9, 2023: Tata Consultancy Services (BSE: 532540, NSE: TCS) reported its consolidated financial results according to Ind AS and IFRS, for the quarter ending December 31, 2022.


Highlights of the Quarter Ended December 31, 2022

  • Revenue at 7.075 billion, +8.4% YoY, +13.5% YoY in constant currency
  • Order Book at $7.8 billion | Book to Bill at 1.1
  • Operating Margin at 24.5%; contraction of 0.5% YoY
  • Net Income at $1.318 billion, +1.1% YoY | Net Margin at 18.6%
  • Net Cash from Operations at $1.354 billion ie 102.8% of Net Income
  • Net headcount addition of -2,197 |Workforce strength: 613,974
  • Diverse and inclusive workplace: Women in the workforce: 35.7% | 153 Nationalities
  • Building a G&T workforce: 11.4 million learning hours clocked | 1.3 million competencies acquired
  • LTM IT Services attrition rate at 21.3%
  • Total Dividend per share of `75 per share including `67 as special dividend
    Record date 17/01/2023 | Payment date 03/02/2023
  • Total Shareholder Payout of `33,297crore Year till Date


Rajesh Gopinathan, Chief Executive Officer and Managing Director, said: “We are pleased with our strong growth in a seasonally weak quarter, driven by cloud services, market share gains through vendor consolidation, and continued momentum in North America and UK. The sustained strength of demand for our services is a validation of the value we provide to our clients in helping them differentiate themselves, while enhancing their competitiveness. Looking ahead, and beyond current uncertainties, our longer-term growth outlook remains robust.”
 

N Ganapathy Subramaniam, Chief Operating Officer and Executive Director, said: “As I look back at 2022, it’s gratifying to see the privileged partnership that we continue to enjoy with our clients globally. In a hybrid working model we delivered many complex…

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