India’s TCS Q3 revenue tops estimates as UK outshines North America

TATA Consultancy Services (TCS), India’s No 1 software services exporter, reported a better-than-expected increase in third-quarter revenue, helped by the strong performance in the UK

Consolidated revenue rose to 605.83 billion rupees (S$9.7 billion) in the three months to Dec 31 from 582.29 billion rupees a year earlier, TCS said in an exchange filing.

Analysts on average were expecting revenue of 601.47 billion rupees, according to LSEG data.

Revenue in its UK market grew 8.1 per cent, but declined 3 per cent in North America, due to extended furloughs and clients cutting discretionary spending amid macroeconomic challenges.

TCS secured deals worth US$8.10 billion in the quarter, down from the US$11.2 billion in July to September.

Consolidated profit rose 2 per cent to 110.58 billion rupees, including an impairment charge of 9.58 billion rupees. REUTERS