Indian IT giant Tata Consultancy Services (TCS) Ltd on Thursday reported a decent growth during the first quarter of the ongoing financial year (Q1 FY25). It posted an 8.72 per cent year-on-year (YoY) rise in net profit at Rs 12,040 crore for the June quarter compared with Rs 11,074 crore in the same quarter last year.
On the other hand, revenue from operations was flattish. It was up 2.24 per cent YoY at Rs 62,613 crore from Rs 61,237 crore in the corresponding quarter last year. Operating margin for the quarter came at 24.7 per cent. Net margin stood at 19.2 per cent, the Tata group firm said in an exchange filing.
Here are the key takeaways from the IT giant’s quarterly earnings:
* Operating margin reflected an expansion of 1.5 per cent YoY.
* Net Income at Rs 12,040 crore, up 8.7 per cent YoY; net margin stood at 19.2 per cent.
* Net cash from operations at Rs 11,168 crore, which was 92.8 per cent of net income.
* Workforce strength: 606,998; net headcount addition: 5,452
* Women in the workforce: 35.5 per cent, including 151 nationalities.
* LTM IT services attrition rate was at 12.1 per cent.
* TCS dividend a dividend of Rs 10, keeping July 7 as record date and August 5 as payment date.
K Krithivasan, Chief Executive Officer and Managing Director, 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, including a new AI-focused TCS PacePort in France, IoT lab in the US and expanding our delivery centers in Latin America, Canada and Europe.”
The Q1 FY24 results were announced post market hours today. Earlier in the day, TCS shares settled 0.33 per cent higher at Rs 3,922.70. Meanwhile, domestic settled on a slightly lower note amid volatile trade.
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