New Delhi, Oct 10 (UNI) Starting the earning season for Q2 on a high, IT major and Tata group flagship company Tata Consultancy Services (TCS) on Thursday announced 5 percent year-on-year rise in net income at Rs 11,909 crore for the July-September or the second quarter of 2024-25 compared to Rs 11,342 crore in the same period last year.
The total income from operations rose 7.6 percent to Rs 64,259 crore in Q2 as against Rs 59,692 crore in the same quarter of last financial year, the company said in regulatory filing with the stock exchanges.
The company also announced a dividend of Rs 10 per share for which the record date will be October 18 and it will be paid on November 5, the company said.
Commenting on the performance, K Krithivasan, Chief Executive Officer and Managing Director, said “We saw the cautious trends of the last few quarters continue to play out in this quarter as well. Amidst an uncertain geopolitical situation, our biggest vertical, BFSI showed signs of recovery.
We also saw a strong performance in our Growth Markets. We stay focused on sharpening our value proposition to our clients, employees and other stakeholders”.
The company said that it is seeing continued momentum in AI/GenAI adoption, with the underlying technology gaining maturity at a very rapid pace. There are now over 600 AI/GenAI engagements deployed successfully in production or in various phases of development.
Our customers are increasingly concentrating on integrating AI throughout their entire enterprise value chain, rather than working on isolated use cases. We are also enabling AI/GenAI capabilities across our suite of product and solutions. We are continuing to deepen our skill sets across our workforce through platforms like AI Experience Zone and TCS WisdomNextTM, the company said.
On Cloud front, the company continues to see good growth in Legacy Modernization, Data Platform Modernization and Technology Landscape Simplification.
Total workforce of the company stood at 612,724 with the net headcount addition of 5,726 at the end of Q2, it said.
Milind Lakkad, Chief HR Officer, said “We welcomed 11,000 associates in the first half of the year, and we remain on track for trainee onboarding as planned. We have also commenced the campus hiring process for FY26. Our strong talent base and increased learning intensity prepares us well for the complex technology transformations that customers entrust us with.”
Samir Seksaria, Chief Financial Officer, said “We made strategic investments this quarter in talent and infrastructure to ensure sustainable growth. Our disciplined execution resulted in superior cash conversion. Our longer-term cost structures remain unchanged, and we remain confident in our ability to continue delivering industry leading profitable growth”.
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