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TCS Reports Double Digit YoY Growth at Rs 7,340 Crore For Q1
Tata Consultancy Services (TCS), India's largest IT firm by sales reported a 23.46 percent year-on-year (YoY) growth in consolidated profit for April-June quarter at Rs 7,340 crore from Rs 5,945 crore profit in the same period last year.
Its consolidated revenue for the quarter increased 15.80 percent to Rs 34,261 crore from Rs 29,584 crore reported for the year-ago period.
The IT firm has announced an interim dividend of Rs 4 per share.
TCS' net profit for the first quarter of 2018-19 was up by 6.3 percent sequentially from March ending quarter as per its stock exchange filing. It surpassed the Rs 6,957 crore consensus estimate of Bloomberg analysts.
Its revenue rose by 6.8 percent on a quarter-on-quarter basis to Rs 34,261 crore, while dollar revenue rose by 1.6 percent to $5,051 million.
Operating profit was up by 5.3 percent to Rs 8,578 crore and EBIT (earnings before interest and tax) margin contracted by 40 basis points to 25 percent.
Segmentwise, quarter-on-quarter basis revenue increased for BFSI by 8.32 percent and YoY revenue was up by 24.7 percent to Rs 13,464 during the quarter under review.
Shares of TCS had closed 0.56 percent lower before the announcement of the Q1 results. Between April and June, the stock returned 29.7 percent in comparison to 5.9 percent rise in the NSE benchmark Nifty 50 Index.
