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TCS plays catch up; closes profit gap with Accenture
October 16, 2023
|Financial Express Mumbai
However, US firm’s revenue still double of the Indian major
DESPITE ACCENTURE'S QUARTERLY revenue being more than double of its nearest rival Tata Consultancy Services (TCS), the latter's net income is now within the striking distance ofthe USbased IT major.
The difference between the net profit of Accenture and TCS is just $ 30 million.
Accenture's revenue for the August quarter (Q4 of FY23) was at $15.9 billion and TCS' revenue for the September ending quarter was $7.21 billion. However, Accenture's net income for the August quarter was $1.40 billion and TCS' for September quarter was at $1.37 billion.
While Accenture follows a September-August financial year, in the case of TCS, it is April-March. The revenue of TCS in June quarter of FY23 was at $7.2 billion, whereasAccenture posted a revenue of $16.5 billion in the May quarter (third quarterof FY23).
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