Q3 results: UK drives growth for TCS in seasonally ‘slow’ quarter

Tata Consultancy Services (TCS) reported better-than-expected results in the third quarter (October –December) of the current financial year, on the back of robust growth in the UK.

In a seasonally slow quarter, TCS reported a net profit of Rs 11,058 crore, up 2 per cent year-on-year (Y-o-Y). This was the fourth straight quarter when growth for the IT behemoth was driven by plum orders from the UK. The company’s geography grew at 8.1 per cent Y-o-Y.

The company also saw green shoots emerging in Europe, which grew by 0.5 per cent. What was disappointing was the growth from the US markets, which fell by 3 per cent.