IT services giant Tata Consultancy Services (TCS) has announced a 12 percent increase in net profit for the recently ended October-December quarter. The net profit climbed to Rs 12,444 crore in the December quarter, compared to Rs 11,097 crore in the same period last year. TCS's release of Q3 earnings marked the beginning of the corporate earnings season for the October-December quarter. Gaining insights from India Inc. will provide hints to market participants.

For the combined quarters of April-June, July-September, and October-December, TCS's net profits increased by 8.6 percent to Rs 36,504 crore. Regarding revenue from operations, the IT services giant recorded a 5.6 percent increase to Rs 63,973 crore in the December quarter, compared to Rs 60,583 crore in the same quarter last year.

Together, the three quarters increased by 6.2 percent to reach Rs 190,845 crore.

Samir Seksaria, CFO of TCS, stated that in a quarter marked by notable cross-currency fluctuations, TCS's effective execution, cost control, and skilled currency risk management contributed to substantial margin growth and free cash flow generation.

"Disciplined investments in talent and infrastructure should lend good support to long-term business growth," Seksaria added.

By the end of December 2024, TCS employed 607,354 people, and the attrition rate for the past year was 13 percent. TCS employs 35.3 percent females in its workforce.

Milind Lakkad, Chief HR Officer, TCS said, "We promoted over 25,000 associates this quarter which brought the total promotions this financial year to more than 110,000."