TCS Q1 Result: TCS net profit up 5.2%, company announces dividend of Rs 8 for shareholders
TCS Q1 Result: Tata Consultancy Services (TCS) has announced its quarterly results. The company’s net profit grew 5.2 per cent year-on-year to Rs 9,478 crore in the first quarter of the current financial year ended June 30. During this period, the country’s largest IT services company’s revenue from operations grew 16.2 per cent year-on-year to Rs 52,758 crore.
TCS has declared an interim dividend of Rs.8 for each equity share of face value of Re.1. Rajesh Gopinathan, Chief Executive Officer and Managing Director, TCS said, “We are starting the new financial year on a strong footing. We have achieved all-round growth and we have got strong deals across all sectors.
“Both the deals currently under negotiation and the deals that have been done remain strong,” he said in a statement. But given the macro-economic uncertainties, we remain cautious. Our new organization structure is well organized, and is bringing us closer to our customers.”
Gopinathan said TCS is confident about the acceleration in technology spending and the pace of growth. The company’s chief financial officer, Sameer Seksaria, said the quarter has been challenging from a cost management perspective. “Our operating margin of 23.1 per cent in Q1 reflects our annual salary growth, higher cost of talent acquisition and normalization of travel expenses. However, our long-term cost structure and relative competitiveness remain the same, positioning us well to continue on a profitable growth path.
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