Author: KT Jagannathan, Vijaya Durga, Dr K Narayanan
The year 2021 has started with a bang for Tata Consultancy Services Ltd (TCS). On 25 January 2021, in the international circuit, TCS became the world’s most-valued information technology company surpassing Accenture: TCS had market capitalisation of $169.25 billion as against Accenture which stood at $168.68 billion.
In the domestic circuit, TCS surpassed Reliance Industries to become the country’s most-valued firm by market capitalisation. Market capitalisation of companies changes daily with movement of their stock prices.
TCS, the country’s largest software exporter, reported net profit at Rs 8701 crore for the third quarter ended 31 December, 2020 (from Rs 8119 crore). It was the strongest third quarter growth yet in the last nine years.
Consolidated revenue for the quarter increased to Rs 42,015 crore (Rs 39,854 crore). The company announced an interim dividend of Rs 6/share.
Rajesh Gopinathan, CEO and MD said: “growing demand for core transformation services and strong revenue conversion from earlier deals helped us post one of our best performances in a December quarter.” TCS reported robust growth across verticals.
By K T Jagannathan, Vijaya Durga and Dr K Narayanan
