India's largest software provider Tata Consultancy Services will announce its earnings for the July-September quarter later today. In an update on its website, the IT major said: "Tata Consultancy Services Limited will announce its results for the Second Quarter of FY 2018, ended September 30, 2017 on Thursday, after-market trading hours." The results will be available on www.tcs.com.
The company will hold a press conference in the evening at 5:15 PM. "The interaction will be telecast live on various business news channels and also streamed live on www.tcs.com," TCS updated. After the conference call, the company will host an Earnings conference call, during which the TCS leadership team will discuss the financial performance and take questions.
First quarter results of TCS was released in July in which the company had reported a 5.9 per cent decline to Rs 5,945 crore in its consolidated net profit. The company profit was hit by currency volatility. TCS had posted a net profit of Rs 6,317 crore in the corresponding three-month period of the 2016-17 fiscal. The company, however, had posted a marginal increase of 1 per cent in its consolidated revenue at Rs 29,584 crore during the quarter as against Rs 29,305 crore in the year-ago period.
Some reports suggest that the company is expected to record 2-4 per cent growth in revenue on the account of increased deals from North America and UK. Kotak securities expects the software company to report 3.7 per cent jump in net profit. According to Kotak, net sales are expected to increase by 3.4 percent quarter-on-quarter to Rs 30579.2 crore.