TCS Q3 net profit rises 12%, announces Rs 18,000-cr share buyback

The company reported revenue for Q3FY22 was at Rs 48,885 cr, up 16.3% YoY and 4.3% QoQ

IT major Tata Consultancy Services (TCS) on Wednesday reported net profit of Rs 9,763 crore for the third quarter of FY22, up 12.2 per cent year-on-year. Profit for the quarter grew 1.4 per cent on a sequential basis.

The Mumbai-headquartered company also announced buyback worth Rs 18,000 crore at Rs 4,500 per share. The company reported revenue for Q3FY22 was at Rs 48,885 crore, up 16.3 per cent YoY and 4.3 per cent QoQ.

The company stated that the total contract value (TCV) for Q3FY22 was at $7.6 billion as compared to $6.8 billion in Q3FY21. The TCV for