Tata Consultancy Services Ltd is targeting a double-digit growth in revenue this financial year on hopes that it will continue to benefit from the pandemic-induced boom in digital and cloud services. Net profit at the Mumbai-based company rose 7.2% from a year earlier to ₹8,701 crore in the quarter ended 31 December. Revenue grew 5.4% from a year earlier to ₹42,015 crore. Profit beat the ₹8,594.1 crore consensus estimate in a Bloomberg survey of 14 analysts.
Chief executive Rajesg Gopinathan said the company recorded its fastest revenue growth in nine quarters in the three months ended 31 December as clients embraced digital transformation because of the disruptions caused by covid. Growing demand for core transformation services and strong revenue conversion from earlier deals have driven a powerful momentum that helped us overcome seasonal headwinds and post one of our best performances in a December quarter, he said. We are entering the new year on an optimistic note, our market position stronger than ever before, and our confidence reinforced by the continued strength in our order book and deal pipeline.
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