NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News  » Business » TCS Q1 net profit jumps 23.4% to Rs 7,340 crore

TCS Q1 net profit jumps 23.4% to Rs 7,340 crore

Last updated on: July 10, 2018 17:39 IST

Revenue up 15.8% at Rs 34,261 crore over year-ago period.

Tata Consultancy Services, the leading IT services, consulting and business solutions firm reported its consolidated financial results on Tuesday.


Financial Highlights for Quarter Ended June 30, 2018

Revenue at ` 34,261 crore; +15.8 % Y-o-Y and 6.8% Q-o-Q

Net Income at ` 7,340 crore; +23.5% Y-o-Y and +6.3% Q-o-Q

Operating Margin at 25%

Net cash from operations at 103.7% of Net Profit

Earnings Per Share at Rs 19.17 up 26.1% YoY; Dividend per share of Rs 4.00

Business Highlights for Quarter Ended June 30, 2018

BFSI vertical growth accelerates: +4.1% YoY; +3.7% QoQ

North America rebounds on BFSI and Retail recovery: +7% YoY; +3.7% QoQ

Digital revenue at 25%, up 44.8% Y-o-Y

2 new clients in $100M+ band, 13 clients added in $5M+ band sequentially

World’s largest Agile-ready workforce: 242,000+ employees Agile trained

Total employees: 400,875; IT Services attrition rate at 10.9% LTM

“We are starting the new fiscal year on a strong note, with the growth engine firing on all cylinders. Our Banking vertical recovered very nicely this quarter, while other industry verticals maintained their momentum. With a good set of wins during the quarter, a robust deal pipeline and accelerating digital demand, we are positioned well for the future,” said CEO and MD, Rajesh Gopinathan.

“Customers across verticals and markets are embracing our Business 4.0 thought-leadership framework and accelerating their digital transformation journeys. Our contextual knowledge, full spectrum capabilities and investments in research and innovation are making us their preferred partner for their growth and transformation initiatives," he added.

Photograph: Shailesh Andrade/Reuters