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TCS net dips 4 per cent in Q3 (Second Lead)

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Mumbai, Jan 11 (IANS) Global software major Tata Consultancy Services (TCS) on Thursday reported 4 per cent annual decline in consolidated net profit to Rs 6,545 crore for the third quarter of 2017-18 from Rs 6,814 crore in the same period last year.

In a regulatory filing on the BSE, it said consolidated total income for the quarter under review (Q3), however, grew 2.7 per cent annually to Rs 31,774 crore from Rs 30,927 crore in the like period year ago.

Sequentially, net profit and income grew 1.3 per cent quarterly in Q3 from Rs 6,460 crore and Rs 31360 crore in the second quarter.

In dollar terms under the International Financial Reporting Standards, net income at $1,012 million is 1.2 per cent up annually and 1.1 per cent up quarterly from $1,000 million in the same period year ago and quarter ago.

Revenue grew 9.1 per cent annually to $4,787 million from $4,387 million in the like period year ago but one per cent lower sequentially from $4,739 million last quarter.

Operating margin at 25.2 per cent was flat sequentially, while volume growth was 1.6 per cent quarterly.

“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.

The company acquired 34 new clients during the quarter, including 3 in $50 million band, 7 in $20 million, 9 in $10 million and 15 in $5 million.

“We wrapped 2017 with a strong performance in the third quarter, marked by industry-defining deals, robust client metrics and broad-based demand across industry verticals,” said TCS Chief Executive Rajesh Gopinathan in the statement.

With organisations ramping up their digital investments, the company has emerged as their preferred transformational partner.

“As lagging parts of our portfolio turn around and areas of softness reduce, we are well placed for stronger growth ahead,” Gopinathan said.

The firm signed its first $50 million deal in digital this quarter, crossing an important milestone in the mainstreaming of digital technologies.

“The investments we have been making in research and innovation and in building intellectual property are giving us an edge in winning large transformational programs,” Gopinathan added.

Chief Operating Officer N. Ganapaty Subramaniam said the new deal ramp-ups, increasing traction of digital, demand pick up in retail and momentum in most of the industry verticals gave the company strong volume growth in a seasonally weak quarter.

“Our reputation for superior execution, combined with our platform capability positions us well to close mega deals,” he said.

Chief Financial Officer V. Ramakrishnan said investments in new geographies or new cloud-based platform businesses were beginning to yield results.

“Several of the key deals we signed this quarter, are a vindication of that strategic patience,” he said.

–IANS
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Foodman Vishal Singh Honored for Hunger Free World Mission in Bangkok

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Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.

The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.

Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.

Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.

For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.

During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.

Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.

Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .

Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.

In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.

During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.

In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.

He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.

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