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Cloud and security services drive TCS growth

Cloud and security services drive growth at TCS

Third quarter revenue at Tata Consultancy Services was fuelled by growth in its cloud and security services portfolios.

Total quarterly sales crossed the $7 billion mark, representing 8.4% growth when compared to the same quarter last year.

The operating margin was 24.5%, down 0.5% annually. But the net income was up 1.1% year-on-year to $1.318 billion.

Rajesh Gopinathan, chief executive officer and managing director of TCS, said: "We are pleased with our strong growth in a seasonally weak quarter, driven by cloud services, market share gains through vendor consolidation, and continued momentum in North America and the UK.

“The sustained strength of demand for our services is a validation of the value we provide to our clients in helping them differentiate themselves, while enhancing their competitiveness. Looking ahead, and beyond current uncertainties, our longer-term growth outlook remains robust."

North America and the UK led with +15.4% growth, while Continental Europe grew 9.7%.

Growth in cloud, cyber security, consulting and enterprise applications led the way in the services segment.