TCS reports larger digital contracts, traction in Europe boosting growth

Logos of Tata Consultancy Services are displayed at the venue of the annual general meeting of the software services provider in Mumbai

Tata Consultancy Services (TCS), the country's largest IT software exporter, has reported a 1.3 per cent increase in its net profit for the October-December 2017-18 quarter, at Rs6,531 crore ($1.01 billion), on a 3.9-per cent increase in revenues to Rs30,904 crore ($4.79 billion). However, on a sequential basis, the net profits grew by 1.31 per cent from Rs 6,460 crore in the September quarter following better performance in sectors such as manufacturing, retail, communication, media and technology.

TCS is ramping up its digital investments and has signed its first $50-million deal this quarter.

Ltd, India's top IT services firm, said its insurance services business would soon post faster growth thanks to higher client spending but remained cautious on a turnaround in its key banking segment. Growth was led by Energy & Utilities (+8.5% Q-o-Q), Travel & Hospitality (+2.9% Q-o-Q) and Life Sciences & Healthcare (+2.5% Q-o-Q).

"Digital solutions contributed 22 per cent to the overall revenue, registering 39.6 per cent growth annually and 13.9 per cent quarterly in constant currency", said the company in a statement. "We should move on from that", he said, appearing to indicate that it was time to focus on the progress companies are making in dealing with the new digital technologies.

The agreement, a multi-year partnership with more than United States dollars 2 billion of revenues to TCS, is expected to be completed by the second quarter 2018.

This was the company's strongest volume growth for the December quarter in three years.

Republican Renacci quits governor race to run for Senate
Renacci leaves the Republican race for governor to Attorney General Mike DeWine and Lt. Sherrod Brown (D-OH), and will announce his candidacy on Thursday.

"We have invested heavily in our insurance digital platform, TCS BaNCS, and our extensive United States capabilities, and are proud to partner with Transamerica in its ongoing transformation and welcome the transitioning employees to promising new careers at TCS", TCS CEO and MD Rajesh Gopinathan said.

The company saw a 0.2 per cent decline in its attrition rate at 11 per cent and added about 1,600 employees during the quarter.

In spite of good progress made in the previous year, the retailer outlined plans to slow its Simply Food store openings in the future, noting that only the highest returning sites will qualify for addition to its store portfolio.

TCS in it's financial audit, mentioned that localisation initiatives continue to progress well, with 2,929 employees recruited outside India in Q3, bringing the total to 9,908 in FY18, year to date.

At 1:43 pm, shares in TCS were trading 0.80 per cent lower at Rs 2,766 on the BSE, whose benchmark Sensex index was down 5 points at 34,498.

Chief Executive Rajesh Gopinathan is winning higher-value work from longstanding clients like Rolls Royce, which increasingly consists of end-to-end projects rather than piecemeal outsourcing, reflecting the more strategic partnerships TCS is striking with its large customers.

Related News:

  • CNN host throws Trump advisor off air

    Miller appeared on the show to defend Trump against the charges made in Wolff's book , but the interview turned combative. Miller then repeatedly attempted to pivot to criticism of CNN , a favorite Trump target.
    Protests urged for Trump Atlanta visit

    Protests urged for Trump Atlanta visit

    Now, a group called Refuse Facism ATL says it is organizing a "Take a Knee" protest against the President outside of the stadium. Trump arrived in metro Atlanta around 6 p.m.to take in the all-Southeastern Conference matchup between the two powerhouses.
    British American Tobacco (BTI) Receives Daily Media Impact Rating of 0.24

    British American Tobacco (BTI) Receives Daily Media Impact Rating of 0.24

    It improved, as 57 investors sold SPG shares while 202 reduced holdings. 86 funds opened positions while 183 raised stakes. ETRADE Capital Management LLC increased its stake in shares of British American Tobacco PLC by 15.7% in the third quarter.
  • Transocean (RIG) Given a $11.00 Price Target at Piper Jaffray Companies

    According to the Analysts, the Low Estimate Earnings of the current Quarter is $-2.79 whereas, High Estimate is $-1.2. Midas Management Corp bought 63,000 shares as the company's stock declined 20.06% while stock markets rallied.
    Canada launches WTO trade complaint against US

    Canada launches WTO trade complaint against US

    NAFTA has been heavily criticized by Trump, who called it the "worst deal in USA history" and warned that he might scrap it. The complaint is "certainly not typical", said Greg Kanargelidis, an global trade lawyer at Blake, Cassels & Graydon LLP.
    One sheriff's deputy shot dead and four injured in Colorado shootout

    One sheriff's deputy shot dead and four injured in Colorado shootout

    "Earlier this morning, our son, Douglas County sheriff's deputy, Jeff Pelle, was shot during the Copper Canyon shooting". When they returned they spoke with Riehl , who barricaded himself in a bedroom before suddenly opening fire with a rifle.
  • Turkey demands answers over U.S.  training of Kurds

    Turkey demands answers over U.S. training of Kurds

    While Russian-backed forces go for Abu al-Duhur, Turkish-supported ones may try to take Afrin and Manbij. In other words, the perpetrators of the drone attacks were not local rebels under Turkey's supervision.
    Kent Bates-Diop, Ohio State stun No. 1 Michigan State

    Kent Bates-Diop, Ohio State stun No. 1 Michigan State

    Ohio State closed out the week in Big Ten men's basketball action in a big way Sunday, defeating No. 1 Michigan State , 80-64. The Jayhawks also lack a surefire National Basketball Association draft pick on their roster for the first time in awhile.
    Jio effect: Airtel Rs

    Jio effect: Airtel Rs

    Besides it, Airtel has also come up with many other prepaid packs, which provide similar data and calling benefits. In all other circles, buyers will get 84-day and 91-day validity with the Rs. 458 and Rs. 509 prepaid packs.
  • HTC U11 EYEs Specs, Renders Leaked Before January 15 Unveil

    HTC U11 EYEs Specs, Renders Leaked Before January 15 Unveil

    Besides, there is also onboard the superb aspect ratio of 18:9 while it rocks the all-new Super LCD-5 display panel. It should be noted that One M8 was HTC's one and only dual camera smartphone and it was launched back in 2014.
    SUVs and Crossovers Saved 2017 for Automakers in the US

    SUVs and Crossovers Saved 2017 for Automakers in the US

    Volkswagen of America Inc. reported an 18.7% drop in sales in December, in spite of strong SUV results mentioned earlier. Fiat Chrysler's sales fell 11 percent, while Toyota's sales dropped 8 percent and Nissan's sales were down 9.5 percent.
    Martin Explains The Process Of Landing Brian Bowen

    Martin Explains The Process Of Landing Brian Bowen

    SC head basketball coach Frank Martin just landed his highest-rated recruit in program history and it will make national news. Louisville suspended Bowen upon learning of the arrangement described in the Justice Department documents.


Most liked

Trump To Announce "Corrupt Media Awards" Next Week
And most recently, Trump congratulated the new publisher of "The Failing New York Times " and offered a bit of unsolicited advice. U.S. president Donald Trump has had a complicated relationship with American media in his almost one year of presidency.

Rob Lowe slams Bella Thorne for being 'inconvenienced' by Montecito mudslides
Noting that she "had no idea why the 101 was shut down", she told followers to "get home to your family safe". Bella Thorne has been publicly reprimanded by an unexpected acting-world colleague: Rob Lowe .

Quique Sanchez Flores quiet on Stoke City job offer
I think, unless he's changed his mind in the last hour or two, that he is going to say he is leaving, he's going to Stoke . But there is even a suggestion in Spain that he could still be with Espanyol's for Sunday's game against Athletic Bilbao.

Lalu verdict: HC stays contempt notice against Congress leader Manish Tiwari
IMAGE: RJD chief Lalu Yadav escorted by police officials after appearing at the special CBI court in Ranchi on Wednesday. Then, the court said that that is why it has recommended their names for Open Jail in Hazaribagh.

Pokken Tournament DX Battle Pack Brings New Fighters Starting This Month
Are you excited about the new characters? You can pre-purchase the DLC right now - the content will download on the above dates. Aegislash and Blastoise will be full fighters, while Mega Rayquaza, Mimikyu, Mew and Celebi will be Assist Pokémon .

Spark Therapeutics' gene therapy for a rare blindness gets $850K price tag
That idea would apply to government programs like Medicare and Medicaid, which provide health coverage to the poor and elderly. Glybera, a gene therapy for a rare protein disorder, was launched in 2012 with a price tag of US$1.2millio.

Saudi Arabia claims to intercept Houthi-fired missile
The Saudi Air Defense Forces on Thursday intercepted a ballistic missile launched by the Houthi militias over Najran. Last Friday, social networking sites shared a number of pictures of an intercepted Houthi missile in the Najran area.

Lawyer for Gophers' Reggie Lynch digs in over UMN sex-misconduct findings
Despite the allegations, Lynch has continued to practice with the basketball team even though he is suspended from game action. And when he asked her to hang out, she said, 'I wish it were that easy; I've got exams and things like that'.

[Newsmaker] LG to shift strategy on money-losing smartphone
LG started to provide CLOi robots at Incheon Airport and Starfield Hanam, a large shopping mall in Korea, last year. It never confirmed the mobile business is down but we know it's not making any money.

Mass burial for New Year's attack victims
We will not be deterred because I am ready to pay the supreme price for the implementation of the anti-open grazing law. Plateau state governor, Samson Lalong had faulted the anti-grazing law, saying he warned Ortom against it.

Recent Institutional Activity: The Charles Schwab Corporation (SCHW), CVS Health Corporation (CVS)
BidaskClub downgraded shares of Charles Schwab from a strong-buy rating to a buy rating in a report on Tuesday, October 17th. Truepoint Inc decreased its stake in Cintas Corp (CTAS) by 83.95% based on its latest 2017Q3 regulatory filing with the SEC.

French league suspends goalline technology after cup errors
The LFP said it will announce next week "follow-up action to be taken in relation to this dossier". The goal line is also used in assisting the referee in awarding a goal or not.

Floyd Mayweather Makes A Joke Out Of #MeToo Movement
Floyd Mayweather was asked about his thoughts on the #Metoo movement and the retired boxer answered the only way he knows how. The year 2017 saw the rise of whistleblowers denouncing sexual assault and harassment from different industries.

Actually, Oregon's ban on self-service gas is good
As of Monday, gas stations in rural areas don't have to have an attendant now between the hours of 6 a.m. and 6 p.m. Added Deerick Smith on Twitter: "To all the OR natives, I will be teaching how to pump gas tomorrow via Skype".

Kenyan airways launch first ever non-stop flight from Nairobi to NY
This comes after the airline KQ and the airport JKIA ( Jomo Kenyatta International Airport ) got the required approvals. Kenya Airways also bagged the title Africa's leading airline - Business Class for the fifth consecutive year.