Tata Consultancy Services (TCS) India’s largest IT services company and a Tata Group flagship has reported a 11.95% rise in net profit to Rs 12380 crore for the December quarter. This marks an increase from Rs 11058 crore in the same period last year and Rs 11909 crore in the preceding September quarter. The company’s revenue grew by 5.6% year-on-year to Rs 63973 crore up from Rs 60583 crore in the year-ago period. However it saw a marginal decline from Rs 64259 crore in the previous quarter. TCS Q3 Results TCS Chief Executive K. Krithivasan highlighted the strength of new orders across industries geographies and service lines providing good visibility for long-term growth. Operating profit margins improved slightly to 24.5% from 24.1% in the previous quarter although they remain below the companys aspirational target. The company’s workforce reduced by over 5000 employees during the quarter bringing the total employee base to 6.07 lakh as of December. Attrition in IT services stood at 13% reflecting improved retention rates. Chief Human Resources Officer Milind Lakkad stated that campus hiring remains on track with plans to onboard a higher number of fresh graduates next year. TCS Dividend and Strategic Moves The TCS board announced a dividend of Rs 76 per share including a special dividend of Rs 66 per share signaling strong returns for shareholders. Additionally TCS disclosed the acquisition of a land bank in Bengaluru from another Tata Group company for Rs 1625 crore which is expected to support future growth. Stock Market Performance On Thursday TCS shares closed 1.72% lower at Rs 4036.65 apiece on the BSE reflecting investor caution even as the benchmark index saw a 0.68% decline.