Tata Consultancy Services Q2 net income up by 14% to $1.3bn

TCS Q2 FY2022 results : Tata Consultancy Services (TCS) has registered a net income of $1.3 billion for the second quarter of the fiscal year 2021-2022 (Q2 FY2022) that ended 30 September 2021, an increase of 14% year-over-year (YoY).

The Indian IT services company had revenue of $6.33 billion for the reported quarter, which is a YoY growth of 16.8%.

Tata Consultancy Services said all its business verticals delivered robust, double-digit YoY growth.

The company said that the revenue growth was steered by the manufacturing vertical (21.7% YoY), life sciences and healthcare (19% YoY), retail and CPG (18.4% YoY) and banking, financial services and insurance (BFSI at 17% YoY), communications and media (15.6% YoY) and technology and services (14.8% YoY).

According to Tata Consultancy Services, its operations in all major markets experienced strong growth with North America leading the charge with 17.4% YoY. The UK grew at 15.6% YoY, while Continental Europe moved up at 13.5% YoY.

TCS Q2 FY2022 results : Tata Consultancy Services reports net income of 14%. Photo courtesy of Naveen.kumar.kotta/Wikipedia.org.

India led growth among emerging markets at 20.1% YoY, followed closely by Latin America at 15.2% YoY, Middle East and Africa at 13.5% YoY, and the Asia Pacific at 7.6% YoY.

Rajesh Gopinathan — CEO and Managing Director of Tata Consultancy Services, commenting on TCS Q2 FY2022 results, 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.”