However, revenue from operations grew by 2.63% quarter on quarter (QoQ) to Rs 64,259 crore in second quarter of FY25.
On a year on year (YoY) basis, the IT firm's net profit increased 5% and net sales grew by 7.65% in the quarter ended 30 September 2024.
Constant currency revenue grew 5.5% YoY in the September 2024 quarter. Operating margin stood at 24.1% while net margin was at 18.5% in Q2 FY25.
Profit before tax was at Rs 16,032 crore during the quarter, down 1.23% QoQ and up 4.58% YoY.
The company said that growth was led by Energy, Resources and Utilities (up 7%), Manufacturing (up 5.3%). All the growth markets marched above company average: India (up 95.2%), Middle East & Africa (up 7.9%), Asia Pacific (up 7.5%) and Latin America (up 6.8%).
TCS’ workforce stood at 612,724 as on 30 September 2024. IT services’ attrition was at 12.3% for the last twelve months.
As on 30 September 2024, the company has applied for 8,354 patents, including 160 applied during the quarter, and has been granted 4,369 patents including 223 granted during the quarter.
Meanwhile, the firm’s board declared an interim dividend of Rs 10 per equity share. The record date for the same is Friday, 18 October 2024 and the payment date is Tuesday, 5 November 2024.
K Krithivasan, chief executive officer and managing director, said: “We saw the cautious trends of the last few quarters continue to play out in this quarter as well. Amidst an uncertain geopolitical situation, our biggest vertical, BFSI showed signs of recovery. We also saw a strong performance in our Growth Markets. We stay focused on sharpening our value proposition to our clients, employees and other stakeholders.”
Samir Seksaria, chief financial officer, said, “We made strategic investments this quarter in talent and infrastructure to ensure sustainable growth. Our disciplined execution resulted in superior cash conversion. Our longer-term cost structures remain unchanged, and we remain confident in our ability to continue delivering industry leading profitable growth.”
Milind Lakkad, chief HR officer, said: “We welcomed 11,000 associates in the first half of the year, and we remain on track for trainee onboarding as planned. We have also commenced the campus hiring process for FY26. Our strong talent base and increased learning intensity prepares us well for the complex technology transformations that customers entrust us with.”
TCS is an IT services, consulting and business solutions organization. It offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions.