TCS net up 24 percent in Q2

Mumbai, Oct 15 (IANS) Tata Consultancy Services (TCS) reported Rs.4,702 crore net profit for second quarter of fiscal 2013-14, registering 24 percent year-on-year (YoY) growth from Rs.3,512 crore in the same period a year ago.

In a regulatory filing to the stock exchanges Tuesday, the IT bellwether said its consolidated revenue for the quarter under review (Q2) rose 16.6 percent YoY to Rs.20,977 crore from Rs.15,621 crore in the same period a year ago.

Sequentially, net profit grew 24 percent from Rs.3,96 crore and revenue 16.6 percent from Rs.17,987 crore in the first quarter.

Under the International Financial Reporting Standard (IFRS), net income grew 16 percent YoY to $748 million and gross income 17 percent YoY to $3.34 billion.

Sequentially, net income grew 12 percent from $668 million and gross income 5.4 percent from $3.17 billion in the first quarter.

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