IT major Tata Consultancy Services BSE -2.17 % (TCS) on Thursday reported a profit after tax (PAT) of Rs 6,603 crore for the September quarter:
This was 4.51 per cent QoQ higher than June quarter PAT of Rs 6318 crore the firm reported in June quarter.
The company said that Q2FY17 was an unusual quarter for the firm as growing uncertainties in the environment were creating caution among customers, which resulted in holdbacks in discretionary spending. The company added one new client in $50 million plus category and six others in $20 million plus category.
TCS had in September informed BSE that the customer outlook was characterised by abundant caution. It had warned of holding back of discretionary spending, particularly in the BFSI vertical in the US, resulting in some sequential loss of momentum.
The company on Thursday said its net sales for the quarter stood at Rs 29,284 crore, down 0.1 per cent QoQ from Rs 29,305 crore sales it reported in June quarter.
EBIDTA margins for the quarter expanded to 26 per cent in Q2FY17 against 25.1 per cent in Q1FY17. The company announced dividend of Rs 6.5 apiece.
TCS stock had on Thursday declined 2.17 per cent to settle at Rs 2,328.50 on BSE.
