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TCS Q1 Results: TCS reports 29% rise in Q1 net profit at Rs 9,008 crore | India Business News – Times of India

NEW DELHI: The nation’s largest software program exporter Tata Consultancy Services (TCS) on Thursday posted a 28.5 per cent rise in its consolidated net profit for the primary quarter (Q1) ended June 2021, powered by greater demand from companies ramping up digital providers through the Covid-19 disaster.
TCS reported a net profit of Rs 9,008 crore in the interval into account as towards a profit of Rs 7,008 crore in Q1 of final fiscal.
In phrases of quarter-on-quarter foundation, the IT main’s profit fell by 2.5 per cent from Rs 9,246 crore posted in the March quarter.
The IT main’s board additionally declared an interim dividend of Rs 7 per share.
Commenting on the outcomes, chief government officer of TCS Rajesh Gopinathan mentioned: “Our business in North America, BFSI and retail all showed an appreciable growth which underlines the resilience of our operating model, relevance of our offerings and above all, the passion and dedication of our associates.”
The upbeat outcomes from TCS, the nation’s high software program exporter, mark the beginning of what is anticipated to be one other sturdy earnings season for India’s IT corporations because of bigger contracts in fields starting from cloud-computing to digital cost infrastructure.
“Growth in the quarter was led by cloud platform services, cyber security, analytics and insights and enterprise application services,” the corporate mentioned in a press release.
The firm’s consolidated income from operations additionally jumped 18.5 per cent to Rs 45,411 crore as in comparison with Rs 38,322 crore in the corresponding quarter of 2020-21.
Further, the corporate’s workforce crossed the 5 lakh-mark at 5,09,058 with the best-ever quarterly net addition of 20,409 folks.
The IT providers large additionally knowledgeable that it managed to take care of its attrition charge below examine and has posted a charge of 8.6 per cent, which is lowest in the business.
“We crossed the $6 billion milestone in quarterly revenue this quarter. In addition to our annual salary increase and promotions, we undertook one of the largest vaccination drives in the private sector,” TCS chief monetary officer Samir Seksaria mentioned.
“Despite this and headwinds in regional markets, we expanded our Q1 operating margin year on year, reflecting the inherent resilience of our business model,” he added.
Shares of TCS closed 0.56 per cent decrease at Rs 3,257.1 on the BSE, whereas it settled 0.67 per cent decrease at Rs 3,253 on the NSE.



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