On Monday, India’s software services exporter giant Tata Consultancy Services, or TCS, reported an 18 per cent Year to Year growth in its revenue at Rs 55,309 crore for the quarter that ended September 2022. Its net profit increased 8.4 per cent Year to Year to Rs 10,431 crore. The company also announced its second interim dividend of Rs 8 per share. TCS shares closed nearly 2 per cent higher at Rs 3,121 apiece on the BSE ahead of its Q2 results.

Starting off the earnings season for the information technology (IT) sector, the country’s largest IT services provider said sequentially; the profit rose 9.93 per cent. TCS said the revenue from operations grew by 18.01 per cent YoY to Rs 55,309 crore against Rs 46,867 crore in the same quarter last year. Witnessing a sequential revenue growth of 4.83 per cent.

In constant currency terms, revenue growth was 15.4 per cent YoY. The company informed that its operating margin came in at 24 per cent, contracting 1.6 per cent YoY. The company’s order book for the quarter was USD 8.1 billion. Net cash from operations came in at Rs 10,675 crore or 102.3 per cent of net income.

Segment-wise, the company’s growth was led by Retail, CPG grew 22.9 per cent, Communications & Media grew 18.7 per cent, and Technology & Services grew 15.9 per cent. Manufacturing, as well as Life Sciences & Healthcare verticals, grew 14.5 per cent, whereas BFSI grew 13.1 per cent.

And the Market-wise growth of the company was led by North America with 17.6 per cent growth, Continental Europe with 14.1 per cent growth, and the UK with 14.8 per cent growth. In emerging markets, India grew 16.7 per cent, Latin America grew 19 per cent, Middle East & Africa grew 8.2 per cent, and the Asia Pacific grew 7 per cent.