Quarterly results season kicks off with Tata Consultancy Services (TCS). For the first quarter of the financial year 2019-20, the company reported a 10.8 percent increase in net profit to Rs 8,131 crore from Rs 7,340 crore in the same period last year.
For the quarter ended June 2019, the IT giant saw a 11.4 percent rise in revenue to Rs 38,172 crore. Its operating margin fpr the period was at of 24.2 percent, against 25.1 percent in March quarter and 25 percent in the same quarter of 2018.. It saw a significant increase of 42.1 percent in digital revenue on a year-on-year to increase its share to 32.2 percent of the total revenues.
TCS' board has declared an interim dividend of Rs 5 per share.
Business in the UK, Europe and India region lead growth with an increase of 16 percent, 15 percent and 15.9 percent, respectively, from a year ago period.
In the April-June period, it made a net addition of 12,356 employees, the highest in 5 years.
Commenting on its performance, Rajesh Gopinathan, CEO and MD, said, "We have had a steady start to the new fiscal year. We see customers continuing to spend on their growth and transformation initiatives, and that is showing in our strong order book and deal pipeline this quarter."