Net profit of Tata Consultancy Services declined by 1.1% sequentially but increased by 5% year-on-year to Rs 11,909 crore in July-September, the second quarter of this fiscal.
IT services major revenue stood at Rs 64,259 crore, with YoY growth of 7.6 per cent, driven by energy, resources, and utilities, and manufacturing.
TCS declared the second interim dividend of Rs 10 per share.
The company added 5,726 people to the rolls during the quarter ending September and now stands with 612,724 members, of whom 35.5 percent are women.
"We saw the cautious trends of the last few quarters continuing to play out in this quarter as well. Given the larger geopolitical uncertainty, our largest vertical-BFSI resumed its recovery mode," said K Krithivasan, CEO and Managing Director, TCS.
"We also saw a strong performance in our Growth Markets. We are focused on sharpening our value proposition to our clients, employees, and other stakeholders," he added.
It also noted in the statement that the company invested strategically this quarter in talent and infrastructure, which would contribute to sustainable growth. Chief Financial Officer Samir Seksaria believes that "our disciplined execution resulted in superior cash conversion. Our longer-term cost structures remain unchanged, and we remain confident in our ability to continue delivering industry-leading profitable growth," he said.
The company continues to see steady momentum in AI and GenAI adoption with the underlying technology maturing at an unusually fast pace.
The number of deployed successful production or development phases for more than 600 AI/GenAI engagements has seen significant growth.
"Our customers are increasingly focusing on integrating AI through their whole enterprise value chain rather than working on isolated use cases," said TCS.
The company filed 8,354 patents as of September 30 out of which 160 were made in this quarter. It received 4,369 patents, out of which 223 were received by this quarter.
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