TCS Q2 FY2023 net profit up by 8.4% to Rs 10,431cr

TCS Q2 FY2023 results : Tata Consultancy Services (TCS) has reported a net profit of INR 10,431 crores for the second quarter of the fiscal year 2022-2023 (Q2 FY2023) that ended 30 September 2022, which is an increase of 8.4% year-over-year (YoY), compared to INR 9,624 crores in the same quarter of the previous fiscal year.

In the first quarter of FY2023, the Indian IT services company made a net profit of INR 9,478 crores.

The earnings per share in Q2 FY2023 for Tata Consultancy Services were INR 28.51, an increase of 9.5%, compared to INR 26.02 in the same quarter of the previous fiscal year.

The Indian IT services company had revenue of INR 55,309 crores for the reported quarter, an increase of 18% compared to INR 46,867 crores in Q2 FY2022.

TCS Q2 FY2023 results. Photo courtesy of Binobose/Wikipedia.org.

In the previous quarter, that is Q1 FY2023, Tata Consultancy Services earned revenue of INR 52,758 crores.

Rajesh Gopinathan — Tata Consultancy Services CEO and Managing Director, commenting on TCS Q2 FY2023 results, said: “Demand for our services continues to be very strong. We registered strong, profitable growth across all our industry verticals and in all our major markets.

“Our order book is holding up well, with a healthy mix of growth and transformation initiatives, cloud migration and outsourcing engagements.

“As clients prepare for a more challenging environment ahead, technologies like cloud that have been embraced now have to be fully leveraged to realize the promised value. TCS has the combination of contextual knowledge, technology expertise and execution rigor to deliver on this imperative.”