TCS revenue grows 2% to $5.7 bn in Dec quarter

Tata Consultancy Services (TCS) reported its financial results for the quarter ending December 31, 2020.
TCS NetherlandsHighlights of the third quarter ended December 31, 2020

Revenue at $5.702 Bn, +5.1 percent QoQ, +2.1 percent YoY

Net Income at $1.18 Bn, +3.4 percent QoQ, +3.7 percent YoY

Operating Margin at 26.6 percent; Net Margin at 20.7 percent

Consolidated headcount: 469,261 | Net addition: 15,721 | Women in the workforce: 36.4 percent

366K+ employees trained in new technologies; 444K+ on Agile methods

IT Services attrition rate dips to a new all-time low, at 7.6 percent LTM

Q3 Segment Highlights

Industries:  All verticals showed good sequential growth, led by Manufacturing (+7.1 percent), BFSI (+2 percent), Life Sciences and Healthcare (+5.2 percent), Communications & Media (+5.5 percent) and Retail and CPG (+3.1 percent). On a year on year, constant currency basis, Life Sciences and Healthcare continued to grow in double digits at 18.2 percent. BFSI (+2.4 percent) and Technology & Services (+2.4 percent) also moved into positive territory.

Markets: Sequential growth was led by North America (+3.3 percent), India (+18.1 percent), UK (+4.5 percent), and Continental Europe (+2.5 percent). Other markets grew as well, with and Asia Pacific growing +2.6 percent, MEA +6.7 percent, and Latin America +3.1 percent.

Services: Continue to see a strong rebound in growth and transformation services as customers seek to operationalize new models. Growth in the quarter was led by Cloud Services, Analytics & Insights, Cognitive Business Operations, IoT and Quality Engineering & Transformation Platform Services.