TCS reports net income at $1.301 billion and growth of +14.0% YoY in Q2

TCS says that all verticals showed strong, double-digit year on year growt led by the manufacturing vertical in Quarter 2

TCS reported its consolidated financial results according to Ind AS and IFRS, for the quarter ending30 September 2021. Rajesh Gopinathan, chief executive officer and managing director, said: “The strong and sustained demand environment is a once-in-a-decade opportunity to position ourselves as the preferred growth and transformation partner for our customers. We are using the growth tailwind to invest in strengthening relevant capabilities and building out a comprehensive portfolio of offerings that caters to a broader set of stakeholders in the enterprise across business cycles, strengthening our brand, and making our business more resilient. We believe this is the most sustainable pathway to create longer term value for all our stakeholders.”

Highlights of the TCS Results Quarter Ended 30 September 2021 

• Revenue at $6.333 Bn, +16.8% YoY; +15.5% CC YoY 
• Operating Margin at 25.6%; +0.1% QoQ, -0.6% YoY 
• Net Income at $1.301 Bn, +14.0% YoY | Net Margin at 20.5% 
• Strong Client Addition: 5 New Clients (total: 54) in $100Mn+; 17 new clients (total: 114) in $50Mn+  
• Net Cash from Operations at $1.344 Bn ie 103.3% of Net Income 
• Net headcount addition of 19,690 |Workforce strength: 528,748 
• Diverse and inclusive: Women in the workforce: 36.2% | 157 Nationalities 
• Building a G&T workforce: 417K+ employees trained in new technologies | 26K+ Contextual Masters identified | 6,900+ Elevate graduates 
• Best in class talent retention: LTM IT Services attrition rate at 11.9%; lowest in the industry  
• Dividend per share: ` 7.00 | Record date 19/10/2021 | Payment date 03/11/2021 

Samir Seksaria, chief financial officer, said: “Strong growth and disciplined execution helped us overcome headwinds from currency and supply-side inflation and deliver expanded margins. Our industry-leading profitability and strong cash conversion give us the wherewithal to make the right investments needed to build out the business of the future.”