India's biggest software-making company Tata Consultancy Services reported a 28.5% surge in quarterly net profits compared with the previous year, according to a company filing at the exchanges.
Led by its life science and healthcare businesses, the incomes for the quarter ended June 30 stood at INR90.1bn ($1.2bn), which was a 2.6% fall from the previous quarter.
Tata Consultancy's revenues for the three months to June 30 rose 18% to INR454.1 billion. The operating margin during the quarter, an indicator of business efficiency, surged 1.2% to 25.5% from a year ago.
"Given the variants of the virus and fears of a potential third wave, we are watchful of the emerging situation and remain optimistic of the opportunities in our core markets and verticals," said Rajesh Gopinathan, chief executive officer and managing director of the compaany in the statement. "We are well-positioned and operating diligently to participate in them aggressively,” he added.
Shares of Tata Consultancy finished 0.5% lower at INR3,258.5 on the National Stock Exchange on Thursday. The quarterly performance announcement came after trading closed for the day.
Sourced from Capital .com