TCS Q2 PAT down 7% YoY at Rs 7,475 cr; announces Rs 16,000 crore buyback

Tata Consultancy Services (TCS) on Wednesday reported a 7 per cent year-on-year (YoY) fall in its net profit or profit after tax (PAT) at Rs 7,475 crore for the quarter ended September 30, 2020 (Q2FY21). The information technology (IT) major had reported a profit of Rs 8,042 crore in the corresponding quarter of the previous fiscal.

On a sequential basis, however, the company's profit grew 6.6 per cent.

The company's revenue came in at Rs 40,135 crore, up 2.9 per cent YoY and 4.7 per cent on a quarter-on-quarter (QoQ) basis. In constant currency, TCS' revenue grew 4.8 per cent