TCS Q3 FY2023 net profit up increases by 11% to Rs 10,846cr

TCS Q3 FY2023 results : Tata Consultancy Services (TCS) has reported a net profit of INR 10,846 crores for the third quarter of the fiscal year 2022-2023 (Q3 FY2023) that ended 31 December 2022, which is an increase of 11% year-over-year (YoY), compared to INR 9,769 crores in the same quarter of the previous fiscal year.

In the second quarter of FY2023, the Indian IT services company made a net profit of INR 10,431 crores.

The earnings per share in Q3 FY2023 for Tata Consultancy Services were INR 29.64, an increase of 12.2%, compared to INR 26.41 in the same quarter of the previous fiscal year.

The Indian IT services company had revenue of INR 58,229 crores for the reported quarter, an increase of 19.1% compared to INR 48,885 crores in Q3 FY2022.

In the previous quarter, that is Q2 FY2023, Tata Consultancy Services earned revenue of INR 55,309 crores.

TCS Q3 FY2023 results. Photo courtesy of Rameshng/Wikipedia.org.

Rajesh Gopinathan — Tata Consultancy Services CEO and Managing Director, commenting on TCS Q3 FY2023 results, said: “We are pleased with our strong growth in a seasonally weak quarter, driven by cloud services, market share gains through vendor consolidation, and continued momentum in North America and UK.

“The sustained strength of demand for our services is a validation of the value we provide to our clients in helping them differentiate themselves, while enhancing their competitiveness. Looking ahead, and beyond current uncertainties, our longer-term growth outlook remains robust.”