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TCS net up 22.6% in second quarter (Lead)

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Mumbai, Oct 11 (IANS) Global software major Tata Consultancy Services (TCS) posted Rs 7,901 crore consolidated net profit for the second quarter of fiscal 2018-19, registering a robust 22.6 per cent annual growth from Rs 6,446 crore in the same period year earlier.

In a regulatory filing on Thursday, the city-based IT bellwether said consolidated revenue for the quarter (Q2) under review grew 21 per cent annually to Rs 36,854 crore from Rs 30,541 crore in the like period year ago.

Sequentially, net profit and revenue grew 7.6 per cent from Rs 7,340 crore and Rs 34,261 crore respectively a quarter earlier.

Under the International Financial Reporting Standard (IFRS), net income grew 11.9 per cent year-on-year (YoY) to $1,119 million in Q2 from $1,000 a year ago and 3.1 per cent sequentially from $1,082 million a quarter earlier.

Gross income in dollar terms also grew 10 per cent YoY to $5,215 million in Q2 from $4,739 million year ago and 3.3 per cent sequentially from $5,051 million quarter earlier.

Digital revenue grew 28 per cent YoY and operating margin at 26.5 per cent grew 1.4 per cent YoY. Net cash from operations at Rs 7,363 crore is 93 per cent of net income. The board has recommended Rs 4 or a whopping 400 per cent dividend per share of Re 1 face value.

Verticals like BFSI (Banking, Financial Services and Insurance) and Retail led the growth 6.1 per cent and 15.6 per cent YoY respectively.

Geographically, Britain and Euorpe lead the growth 22.8 per cent and 17.4 per cent respectively.

The company added 10,227 techies during the quarter, taking the total headcount to 2,79,000 employees.

The company’s blue chip scrip, however, lost Rs 63.30 or 3.1 per cent per share of Re 1 face value on the BSE, closing at Rs 1,979.75 at the end of Thursday’s trading on the BSE as against Wednesday’s price of Rs 2,043.04 and opening price of Rs 1,998.70.

The shares also quoted at high of Rs 2,013,55 and a low of Rs 1,943.05 during the intra-day trading.

–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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