Mumbai India's largest IT services company Tata Consultancy Services (TCS) on Thursday posted an 8.7 per cent year-on-year rise in its consolidated net profit at Rs 12,040 crore in the first quarter ended in June 2024.
The net profit for the same period of the previous year amounted to Rs 11,074 million.
The company, which competes in the IT services market with the likes of Infosys, Wipro and HCLTech, reported a 5.4 per cent rise in revenue to Rs 62,613 crore in the just-ended quarter.
However, sequentially net profit fell 3.1 per cent compared to the March quarter.
"I am pleased to report a good start to the new financial year with broad-based growth across industries and markets," K Krithivasan, MD, TCS, said in a statement.
The company continues to expand its customer relationships, build new capabilities in emerging technologies, and invest in innovation, including a new AI-focused TCS PacePort in France, an IoT lab in the US, and expanding delivery centers in the Americas. Latin, Canada and Europe. Krithivasan added.
Samir Seksaria, Chief Financial Officer, noted that despite the usual impact of annual salary increases this quarter, the company achieved strong operating margin performance, validating its efforts towards operational excellence.
"I am delighted to announce the successful completion of our annual increase process. Our continued focus on employee engagement and development led to industry-leading retention and strong business performance, with net headcount additions a reason for immense satisfaction," Milind Lakkad, HR director, said.
TCS has declared an interim dividend of Rs 10 per share of Re 1 each.
The net profit for the same period of the previous year amounted to Rs 11,074 million.
The company, which competes in the IT services market with the likes of Infosys, Wipro and HCLTech, reported a 5.4 per cent rise in revenue to Rs 62,613 crore in the just-ended quarter.
However, sequentially net profit fell 3.1 per cent compared to the March quarter.
"I am pleased to report a good start to the new financial year with broad-based growth across industries and markets," K Krithivasan, MD, TCS, said in a statement.
The company continues to expand its customer relationships, build new capabilities in emerging technologies, and invest in innovation, including a new AI-focused TCS PacePort in France, an IoT lab in the US, and expanding delivery centers in the Americas. Latin, Canada and Europe. Krithivasan added.
Samir Seksaria, Chief Financial Officer, noted that despite the usual impact of annual salary increases this quarter, the company achieved strong operating margin performance, validating its efforts towards operational excellence.
"I am delighted to announce the successful completion of our annual increase process. Our continued focus on employee engagement and development led to industry-leading retention and strong business performance, with net headcount additions a reason for immense satisfaction," Milind Lakkad, HR director, said.
TCS has declared an interim dividend of Rs 10 per share of Re 1 each.
