Tata Consultancy Services (TCS) reported a net profit of ₹12,040 crore for the first quarter.
The net profit saw a decline of 3.2% compared to the previous quarter’s ₹12,434 crore.
Revenue for the quarter rose by 2.2%, reaching ₹62,613 crore, up from ₹61,237 crore in the last quarter. EBIT also saw a decrease of 3%, amounting to ₹15,442 crore compared to ₹15,918 crore in the previous quarter. The margin stood at 24.7%, down from 26% QoQ.
K Krithivasan, CEO and MD of TCS, said, “I am pleased to report a strong start to the new fiscal year with all-round growth across industries and markets. We are continuing to expand our client relationships, create new capabilities in emerging technologies, and invest in innovation. This includes a new AI-focused TCS PacePort™️ in France, an IoT lab in the US, and expanding our delivery centers in Latin America, Canada, and Europe.”
Samir Seksaria, CFO, added, “Despite the usual impact of annual wage increments this quarter, we have delivered strong operating margin performance, validating our efforts towards operational excellence. We remain focused on making the right investments in R&I and talent, strengthening our superior return ratios, and creating long-term value for our stakeholders.”
